Richard Liu Qiangdong About His 20-Year Journey In The World Of Retail

Richard Liu Qiangdong attended 2018’s World Economic Forum Annual Meeting, and talked about his journey that changed the landscape of the retail industry through supply chain innovation. From a restaurateur to an important figure within the world of retail, the founder and Chief Executive Officer of JD.com is one of the wealthiest men in China, having a net worth of $11 billion, according to Forbes.

Richard Liu started his business in 1998, selling computer accessories out of a 4 square meter store in Beijing. His business expanded and by 2003 he had 12 physical stores, but due to the SARS outbreak and having both his staff and his customer house-bound, his business was at risk. He ended up closing all 12 stores by the end of 2004, and out of necessity he started retailing online, thus creating JD.com. Despite the fact that he thought in 1998 that the online market was chaotic, once he started doing business online he realized that the logistics costs were lower and recognized the fact that e-commerce was the trend for the future.

In order to prove that he is serious about his business, Richard Liu Qiangdong decided to not sell any counterfeit products on his platform, he provided receipts and wanted to provide a good experience to customers, in order to make his company more unique. Due to the limited amount of money, the platform only sold IT products and mobile phone initially, but added new products every year. Nowadays, the platform has a market value of $60 billion, and in 2017 they added 30,000 new employees, for a total of 167,000. Richard Liu considers that the largest e-commerce platform in China will also be the biggest in the world.

The company has 500 logistics centers and can deliver products in as little as 3 hours in Beijing. Their most popular products are consumer goods, foods and fashion items. 57% of orders are delivered within 6 hours in China, 97% of them arriving in 10 hours. The company also delivers around the world, and it could take 10 to 15 days for products to get to Washington.

Read More: www.thecasecentre.org/students/products/view?id=148717

James Dondero – Dallas philanthropy

James Dondero is a perfect example of someone who always had a vision to not only find success in his professional endeavors but also in the form of giving back to the community. He has lived in the Dallas, Texas area for a very long time now and has never backed off from serving the people in the slightest possible way. He could definitely be counted among those successful businessmen who have the acute nerve to apply their business acumen into philanthropy. Because of his countless number of charitable programs around the North Texas region, he is highly regarded in the community and is a household name in the region. Some in the professional world also consider him to be a rarity. Read more at Huffington Post about James Dondero.

Being the co-founded as well as the president of the Highland Capital Management, James Dondero always wanted his firm to give charitable contributions right from the beginning. In other words, he made sure that giving back to the community was not only in the best interest of his organization but also in his company’s DNA. He has been very strategic in terms of the developments he wished for the Dallas region; another way it actually helped his organization is to build trust and loyalty among the people as well as his clients. His focus on making some tangible impacts on the community has had some tremendous focus on him as a unique business leader.

Check: http://www.jamesdondero.com/market-insight/

Mr. Dondero also has some special affinity towards Dallas, Texas as he relocated to the northern big city in the state of Texas in 1994 after having moved the company’s headquarters from Los Angeles. He was welcomed by the city because of which he has never backed off from bring about improvements in the area through his philanthropic and noble causes. Even though his organization has a global reach, he chooses to serve the local community so that his firm could bring about some creative impacts in his own backyard. It is because of his unique vision that he is respected by his professional and personal peers, leading him to more successes every day. Read this article at barrons.com.