Among its recent moves in the fashion industry, JD this year paid $397 million for a stake in e-commerce platform Farfetch. Over the last two years, JD has hosted fashion shows in New York, Milan, London, Beijing and Shanghai and separated JD Fashion into a new business unit under the e-commerce business. In 2017, JD Fashion has made a major push in the luxury and fashion areas by introducing several international brands on the site, including Armani, Swarovski and Zenith. Liu, 43, has a fortune worth $9.8 billion on the Forbes Real-Time Billionaires List, making him one of the world’s richest e-commerce entrepreneurs. Also known as Liu Qiangdong, Liu owns 15.8% of JD; U.S. retail heavyweight Walmart holds 10.1% and China Internet giant Tencent has an 18.1% stake.

Source: Forbes October 05, 2017 06:35 UTC