Richard Liu Qiangdong: An Entrepreneur Transforming the Retail Industry

Richard Liu is the CEO and founder of JD.com. The company is China’s top-most retail business done online. During his interview, he shared his personal as well as entrepreneurial experiences that enabled his business to grow to its position globally. He appreciated getting to know peoples’ voices around the world during his tour to Dallas. Richard Liu Qiangdong stated that the name JD.com came from a combination of his first name and the last name of his wife. In 1996, he studied at the Renmin University in China where he awarded his degree in sociology. This was out of political pursuit. Two years later, Richard Liu began growing his business.

The entrepreneurial journey started by Richard Liu teaching himself computer programming. He later achieved his EMBA from the China Europe global business school. Upon graduating, Richard Liu served at various roles at Japan Life for two years. Richard Liu also spoke of his poor background during the interview. He elaborated about how his parents owned a transport enterprise of distributing coal from north to south China. His first business plan was a restaurant. He used his payments from computer programming to fund the enterprise but it collapsed. This was because of only 2 hours of devotion to the start-up business. However, he was motivated by his grandmother’s ill condition that required him to pay for her medication.

In 1998, Richard Liu Qiangdong rented a small store that sold products of the magneto-optical kind. He named it Jingdong. Five years later, the start-up business expanded to 12 stores. After encountering challenges, Richard Liu arose and opened his online business. In his interview, he said that online enterprise was better than offline business due to lower capital required as well as terrific customer satisfaction. The online giant business is recently worth above $60 billion. As the owner of the biggest retailer empire in China, Richard Liu offers 97% of his clients’ delivery within 20 hours and 57% delivery in 6 hours. The 44-year old internet celebrity would also like to be remembered as a caring family man, a good son and a good employer. He is an inspiration to entrepreneurs worldwide due to his great legacy as a businessman.

Two Important Acquisitions in One Year, Flagship Europe and Tyson Facility, Property Buys which prove OSI Food Solutions is Never Willing to Stop Improving its Capabilities

A world-acknowledged leader in the realm of food processing, manufacturing and distribution, OSI Food Solutions, started its life nearly 100 years ago as a butcher shop in Chicago. Today, it’s roots are still proudly flourishing in the Aurora, Illinois region, where OSI headquarters. However, the butcher shop from Chicago is now a world-wide concern. Under the guiding wing of long-time CEO, Sheldon Lavin, who saw the potential of the business when it was still Otto & Sons, OSI Food Solutions has evolved exponentially, acquiring subsidiaries in North America, in South America, Europe and Asia.

Creating tailor-made protein products has become the company’s signature enterprise, including for the McDonald’s chain of fast-food restaurants, which has been a long-time customer. With more than 60 companies in 17 countries and a state-of-the-art system that has streamlined its operational structure from sourcing, through processing and distribution, OSI has the means to enhance the food options of its clients all over the world. In 2016 the OSI Food Solutions Group added value to its Aurora, Chicago, holdings by acquiring a local Tyson Foods Facility. Cook County documents attest to the purchase price as being 7.4 million dollars.

The deal provided OSI with an additional 200,000 ft. of infrastructure capability in an area proximal to its Chicago-based facility. Tyson had announced the dissolution of the plant a year prior. During the same busy year, OSI Food Solutions also acquired Flagship Europe from the Flagship Food Group, Denver. Flagship inventory offerings included frozen poultry, pies, sauces, dressings and food preparation products, all of which provided an excellent fit with the line of products available through OSI. Both of these savvy acquisitions have only broadened the reach of the company’s distribution and manufacturing capabilities as well as the breadth of the potential offerings of the food-processing world leader.