How Richard Liu Qiangdong Turned A Store In Beijing Into A Giant Enterprise


Richard Liu Qiangdong is the founder and the Chief Executive Officer one of the leading e-commerce companies that China has to offer, Being worth more than $12 billion, Liu is among the wealthiest men in China. He was born in the town of Suqian, and from an early point in his life began to recognize the role that broadening his horizons played when it came to future employment opportunities. As such, despite the fact that he was focusing on his major in university, he was teaching himself how to code and studied computer science on his own.


After graduating, he worked for Japan Life, eventually becoming the company’s Director of Computers. However, he left the company in 1998, pursuing his own entrepreneurial calling. He started putting the pieces together for what would become a multi-billion-dollar valuation, later down the line. He rented a place in Beijing and started selling magneto-optical products. Richard Liu aimed to set his business apart from the other vendors by providing great customer service and quality products, something which would gain him the customers’ trust and loyalty.


The small business that Richard Liu Qiangdong established turned into a profitable chain of stores – 12 in total. However, despite the fact that Richard’s business was highly successful, the SARS outbreak in China in 2003 was forcing changes in the retail world and throughout the country overall. He was forced to close all of his stores, but decided to move to the online medium, and thus his new e-commerce business began.


Mr. Qiangdong has managed to accrue a few important accolades over the years Richard Liu has been featured as an Honoree in Variety 500 website entitled, “ Richard Liu; Founder / Chairman / CEO”, as a result of his persistence, innovation, and hard work


He sold the same type of products that he sold initially when he opened his stores, but soon enough things started to expand. Other vendors noticed the profitability of e-commerce and partnered up Liu Qiangdong, selling their goods on the platform that was now known as The platform was now selling items ranging from daily essentials to high-end luxury products, and became a staple in plenty of households. The company became the first company based in China to be traded on NASDAQ. On the day became publicly traded, the value of the stock rose by 15%.Get Related Information Here.


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