JD.com introduces the JD Stock Material Center
In a strategy to oversee JD.com’s customer base’s growth, the e-commerce giant has introduced the JD Stock Material Center to offer a royalty-free avenue for its clients. JD.com is known for selling quality and authentic products since its inception. Even when its competitors sold cheap counterfeit products, JD.com retained its commitment to sell quality products at an affordable price. JD.com remains committed to upholding copyright protection in the online business. There will be free access to the JD Stock Material Center by its Merchants and KOLs. Users will have to follow all the promotional procedures of the JD Stock Material Center and at the same time, save millions of RMB and get their IPR protected.
The platform allows users to try at least hundreds of images and fonts yearly, thus spending thousands of RMB. Every user must adhere to the copyright rules throughout the design process. To meet most online business people’s needs, the Center will offer a different section of fonts and more than 100 million royalty-free stock images. There will be an automatic caption of images and categorization of texts’ styles using AI technology. There will also be a stand-by team to help merchants during the process. According to Jiandong Pei, JD Retail’s Vice President, JD.com will invest more in copyright protection and look for more ways to develop a robust copyright protection system.
Richard Liu established JD.com in Beijing. JD.com started as an offline retail venture dealing with the sale of computer accessories. With the outbreak of the SARS epidemic in 2003, Richard Liu decided to sell his products online. The online advertisements were successful, and Liu decided to close the offline store in 2004 and embarked on exclusive online sales. At first, JD.com focused on selling electronics, but the e-commerce platform started to diversify into various sale categories within time. The online retailer has grown over the past years in terms of revenue to become China’s largest e-commerce platform. JD.com’s customer base has exceeded 441 million active clients. JD.com reported a $ 37 billion net income in 2016. In 2019, the Chinese largest e-commerce business reported over $US 83.5 billion in revenue.
Richard Liu serves as JD.com’s CEO since its inception. Liu attended the Renmin Univerity of China for a Sociology degree and later the China Europe International Business School for an MBA. While still at Renmin Univerity, Liu enrolled for computer programming training and attended the classes during his free time. The computer programming course made him become a computer guru. After completing his degree, Liu secured a job at Japan Life due to the advantage of being a computer guru. He rose over the organization’s ranks within a short period and became the Computers and Services Director. His passion for pursuing and investing in his venture made him quit work at Japan Life and started his offline retail venture of selling computer parts.
Richard Liu always had entrepreneurial passions since his time in school. He had already established a restaurant while at the university, though his employees stole from the business; causing him to close down the business. Before JD.com, Liu also founded the Beijing Jingdong Trading, a firm he served as its Chairman and CEO. Jingdong Trading specialized in magneto-optical distribution. Richard Liu is a board member of JD Health International Inc and also Farfetch.com.
Richard Liu has always remained committed to his endeavors. Liu’s commitment to the business saw the retail store grow to full size in five years. JD.com grew to have 12 stores across Shanghai, Shenyang, and Beijing. Richard Liu’s commitment to JD.com led to the success of the venture. When transiting online, Liu made the initial coding for his website and saved enough money for the venture by sleeping in the office rather than getting a rental house.
Richard Liu launched JD Logistics to help JD.com distribute its products to various clients in different parts of China. Liu embarked on developing a robust and effective national logistic system. JD Logistics became the first China logistics firm that could deliver to any part of the country.