All articles tagged with #richard liu
JD.com founder Richard Liu announced a strategic turnaround focusing on overseas expansion, competing with Meituan in food delivery and travel, leveraging its logistics network, and planning to enter European markets by 2026, amid a period of stagnation since 2020.
JD.com founder Richard Liu has addressed deep-seated issues within the company in an internal memo, echoing a similar call to action made by Alibaba founder Jack Ma. Liu responded to an employee's post on a JD.com forum, acknowledging existing problems such as poor merchant support and high prices. JD.com and Alibaba have been losing ground to emerging competitors in China's e-commerce market, with JD.com's shares falling over 50% this year. Liu emphasized the need for change and taking initiative to overcome these challenges.