THE SUCCESS OF RICHARD LIU QIANGDONG

 

Richard Liu Qiangdong is the founder of JD.com. He is the chief executive officer of this company. This company is one of the largest e-commerce business in the country of China. It is worth $57.6 billion. He built the company from scratch. Richard Liu studied in the University of Prestigious Renmin. In 1996, he graduated from the campus with a degree in sociology. Richard Liu was hired in a health company where he worked for two years. He  served different roles including director for computers and director for business. He has a variety of honors. It is referred to as 2017 variety 500 honorees.

 

Richard Liu Qiangdong then started a shop selling Magneto optical products. This was after his failure in the restaurant business and making health products sale. He named the business Jing dong. By the year 2003, he had set up 12 stores.SARS outbreak threatened his business. He came up with JD.com which was born due to everyone being housebound. This was fully functional in the year 2004. In the year 2005, he shut all the physical stores and focused on e-commerce. Richard Liu added the consumer goods and the electronics. In 2010 they had all the products in the market. The most popular product that they sell is consumer goods and fashion.

 

There were many counterfeit products online. People also cheated on the prices of the products. This was a contributing factor to his company growing rapidly. Liu offers after sale services. This include shipping the products to the customers. They ship goods globally. In other countries, it takes them a few days. He says that their goal is to be number one in China. They also have a goal of venturing into other countries. This includes Asia, Europe and United States of America. See Related Link to learn more.

 

There is a company called WeChat which was being established. The owner acquired a 15% stake in JD.com. The deal is to advertise the company in the social media. It will boosts JD.com with almost a billion active users. After two months the platform became viral. JD.com now competes with Alibaba.

 

More about Liu on https://variety.com/exec/richard-liu/