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

E-Commerce Genius: Richard Liu Qiangdong

 

Graduating from one of the most prestigious universities in China, Renmin University with a degree in Sociology back in 1996 – Richard Liu has invested his time and effort as a young adult in developing and practicing his technological prowess through diving through independent coding work. Richard Liu Qiangdong after finishing in Remnin University, he then followed this up with a Executive Masters Business Administration Degree from the China Europe International Business School — where this was followed by a career in a Japan Life. From here on out, Richard Liu built his e-commerce empire to what is now known as JD.com.

JD.com is now backed up and supported by stockholders and major business partners like Walmart, Farfetch, WeChat and Alibaba to name a few. This is cemented on the skills, professionalism and trust founded by Richard Liu.

Richard Liu’s company, JD.com is the very first China based Internet company to be part of the Fortune 500 List – and Richard Liu Qiangdong in Fortune’s list of the “World’s Greatest Leaders”.

Earlier this year, back in January, in Davos – Klosters, Switzerland – Richard Liu Qiangdong attended, and delivered a speech to all of the world, and in front of world leaders: United States President Donald Trump, Chancellor of Germany Angela Merkel, United Kingdom Prime Minister May, to name a few.

Here as well, Richard Liu was interviewed by David M. Rubenstein to discuss how Richard Liu Qiangdong metamorphosed the retail industry through innovations in the supply chain.

Richard Lie Qiangdong discussed the newest retail strategy which is customer centered and that JD.com is a company that provides product and experiences. In this age of new retail, less experience is had by the consumer under asymmetric information and obstacles in shopping. Richard Liu’s new retail strategy is very focused on consumer engagement – such as customer stickiness, interaction, traffic and user base in the goals of improving sales conversion rate.

Basically, it is a hyperaged strategy of the flow of analyzing what is needed, deciding on which products to produce, comparing and choosing which channels to purchase them from and to further drive sales rooted from consumer interaction. View More Information Here.

 

This is how Richard Liu has pioneered and lead JD.com in his e-commerce empire.

Learn more about Richard on https://www.scripps.org/physicians/18780-richard-liu?tab=overview

 

 

Top Facts About Richard Liu Qiangdong

 

Richard Liu is the founder, chairman, and CEO of JD.com, which is one of the largest e-commerce platforms in China that specializes in sales of computers and computer accessories. During an interview conducted by the World Economic Forum Annual Meeting, Liu was able to give an insight on how to build a successful business without fear of failure. JD.com was started in 2004, and the name comes from Liu’s first name and his girlfriend last name. Liu first started working in his family transport business before joining a college in Beijing. While in school, Richard Liu started a restaurant business that failed miserably due to time constraint.

 

He later started a retail company that had a store around the city selling computer accessories. Richard Liu said that he was motivated to do business due to financial challenges facing his family. He states that at one point his grand mum was sick and the family was unable to raise money for medication. Therefore, Liu realized that he needed to make money. However, when the SARS epidemic hit the country, Liu had to close the store for fear of losing workers. This was when the idea of selling the computers on an online platform was born.

 

Richard Liu’s company took six years to put all the products online and focused on selling original products. Currently, the company enjoys a market value of $60 billion and 167,000 employees. Richard Liu has indicated that JD.com will be the top seller market for computers in China.

 

The company has an excellent market valuation, finance, technology and logistics, which will help it to emerge the top market in China. The firm can ship product around the world including Washington, London, Paris and many more within 15 days. But local shipment will only take an average of six hours in major cities and 20 hours in remote areas. Most of the popular product purchased by consumers on the JD website include fashion, food and consumers’ goods. The company has about 500 logistics centers. The company is focused on going global with their core business: e-commerce, technology, and logistics. View Related Info Here.

 

See also https://www.hugessen.com/person/richard-liu for more info about Richard Liu.