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