Richard Liu Qiangdong’s Ideas That Have Revolutionized Shopping

The field of shopping has dramatically changed over the years due to rapid technological advancements and excellent, innovative ideas from legendary entrepreneurs like Richard Liu. He is the founder, CEO, and chairman of one of China’s largest online retail platform JD.Com. Liu Qiangdong’s transformation and the robust growth of his business is an intriguing story that is worth to read.

Richard Liu attended Renmin University where he graduated in 1996 with a degree in sociology. Besides, Richard Liu Qiangdong was passionate about technology and computers that he spent most of the time in the university learning how to code and working as a freelancer working on computer programs. Soon after graduation, Liu joined China Europe international business school to pursue an Executive MBA after which he delved into the workforce. Liu began his career as an employee at a Japanese company selling medical products. He was in charge of computers and director of business during his two years with the company.

Soon after quitting his job Richard Liu Qiangdong joined the world of business where he started ventures in the healthcare industry and hospitality industry. Both ventures failed terribly. However, Liu found his breakthrough in 1998 when he set up a shop named Jingdong in Beijing selling a myriad of electrical products and computer spare parts. Within five years Jingdong had expanded to over ten stores spread across the major cities in China. However, the SARS epidemic hit the country threatening the thriving of Richard’s business.

In 2004, the SARS outbreak forced Richard Liu Qiangdong to reconsider his brick and mortar business model. He transformed Jingdong into an online shopping platform which he named JD.Com. The online shop model worked so well for his business and in 2005, he closed all the physical stores and focused on a purely online-based shop. Since then, his company has grown dramatically attracting numerous investors and partners offering lucrative deals.

Walmart and Wechat are some of the most significant partners of JD.Com which have significantly increased the net worth and the revenue collected by the company. Currently, Richard Liu is estimated at a net value of $7.5 billion by Forbes and his company over $57 billion.

In an article with Seeking Alpha entitled “JD.com: Will Richard Liu Deliver In 2019?”, it indicated that the positive vibes manifested by the management during the 3Q 2018 earnings conference call bodes well for a brighter 2019.

 

Visit This Page for more information.

Richard Liu Qiangdong And His Journey In Becoming The Retail King Of China

 

Richard Liu Qiangdong, a member of a member of the BOF 500, as well as the founder and CEO of China’s largest e-commerce company, carried out innovation and worked hard to be able to make his plans succeed. His online selling platform, JD.com, is serving millions of people in China and the whole world. But his journey to become the Retail King of the Chinese retail market was not easy.

During his early life in the Jiangsu province, Qiangdong learned the value of hard work from his coal-shipping parents. His academic endeavors are also supported by his parents because they believe in how important it is to have a proper education in this age. Richard Liu enrolled in The Peoples’ University of China in the Sociology program. During his time as a student, he learned how to program and taught himself important computer science knowledge.

The knowledge Liu Qiangdong acquired during about computers was put into good news during his stay at Japan Life, which is a natural supplement provider. He worked as the company’s Director of Computers. However, born as a natural entrepreneur, Richard Liu Qiangdong decided to leave the company in order to start his business of selling magneto-optical products. He called the store as Jingdong. See Related Link for more information.

Jingdong has been a successful franchise because of its reputation of selling authentic-only products while its competitors are selling imitations. Richard Liu’s mortar-and-bring Jingdong had twelve retail locations. However, when the SARS outbreak happened in 2003, he and the other small businesses cannot risk the health and life of the employees. That’s why he decided to disband the twelve retail locations and focus on selling online. With his knowledge in programming, he created an online site called the 360Buy Jingdong two years after disbanding his mortar-and-brick business.

Richard Liu Qiangdong’s online platform caught the attention of new businesses. They also want to sell on the platform because the venture would be profitable for them. Seeing this as an opportunity, Richard Liu formed a long-term partnership with these businesses and renamed his site as JD.com, and the rest is history. Now. JD.com is known for its speedy delivery, high-quality product, and resistance to counterfeit goods, which makes them the most trusted online shop in China. With Richard Liu’s leadership, the company has been one of the biggest firms in the world.

 

More about Liu Qiangdong on https://www.crunchbase.com/person/qiangdong-liu

 

 

 

 

Richard Liu Qiangdong Builds JD.com From Failed Physical Stores

 

When companies fail, their founders usually abandon the business. Under most circumstances, businesses fail due to poor leadership, poor work ethic, or changes to the community. There are rare instances when health hazards cause a company to fail. In those instances, companies tend to remain close.

In 2003, China experienced a nationwide SARS outbreak. SARS immediately made it dangerous for people to have face-to-face contact. This meant that brick-and-mortar establishments faced a gloomy outlook, regardless of what business they were in. Many closed their doors and never reopened, but a few found new ways to reach customers.

Richard Liu Qiangdong is one of China’s most successful entrepreneurs, and his solution to the SARS crisis gave birth to China’s second most successful online company. Liu Qiangdong first real job was as a freelance coder, something he started doing after learning computer programming.

His freelance work was just a way to make extra money while attending the China Europe International Business School. At that time, his grandmother fell ill, and he needed money for her treatment. He also used that money to open a small restaurant, officially breaking into the entrepreneurial game. See Related Link for more information.

The restaurant venture ended badly, as the business went belly up due to his lack of commitment. Restaurants require constant attention from owners and managers, but Liu Qiangdong only dedicated two hours a week to the business. After that failure, Liu Qiangdong decided to wait before trying to open another company.

In 1998, he got another opportunity to branch out on his own after acquiring a four-square-meter store. He opened a little shop that sold magneto-optical products. For a name, he combined the last characters of his and his then-girlfriend’s names. Jingdong became a massive success in Beijing. Five years later, there were 12 Jingdong stores nationwide.

Unfortunately, 2003 was the same year of the SARS outbreak. With brick-and-mortar stores no longer safe, Liu Qiangdong moved his company online. Jingdong became JD.com, and Liu Qiangdong found greater success.

 

Visit him on https://www.forbes.com/profile/liu-qiangdong/#711217232c0d

 

JD.com Is Really Getting Into The Spirit Of Giving This Holiday Season

 

JD.com is known best as China’s biggest retail company and though the company’s officials are proud of the way that JD.com is continuing to innovate in the world of retail and to set new records for sales, they are as proud of the commitment to philanthropy and giving back to the community that has become engrained into the JD.com company culture.

One of the biggest priorities on the minds of company officials at JD is to find new ways to help the disadvantaged and the left behind children of the country of China. A recent strategy for helping out in this regard has been to partner up with leading consumer brands that are willing to donate portions of their profits toward giving the children who need it a better life.

JD.com has also partnered up with a leading philanthropic organization that is noted for its work that it does for children. This organization is known as Wardrobe of Love and it is working together with JD.com on the Season of Giving promotion that will run this holiday season in late December.

It is in this critical promotion that major consumer brands will be donating a portion of their overall sales in order to ensure that kids are able to receive items such as school bags and books as well as clothing and other items that are needed in some of the most remote and harsh regions of the country of China.

In recent decades the country of China has seen rapid development as urban cities continue to grow as lightning speed. In this environment, many parents have gone to these urban areas for employment while having to leave their children with other family members. Get Additional Information Here.

Thankfully, these numbers of children in this situation are on a sharp decline, but there may still be as many as seven million children who fall into this category and JD.com is devoted to finding ways to help them out. Partnering with Wardrobe of Love and these major consumer brands are going a long way towards helping these children.

 

Additional Reference:  https://boards.greenhouse.io/jdcom