Richard Liu Qiangdong: Growing JD.com
October 25, 2018
The video interview featured only for him.org with Richard Liu Qiangdong and David Rubenstein is an eye-opener for anyone that is interested in growing their own business. In fact, Richard Liu talks about how he was able to succeed after a significant failure. As a student, he thought that he would have enough time to successfully contribute to the growth of a burgeoning restaurant business. Unfortunately, this was not the case. The business needed more of his time and he was able to provide, and he learned a very powerful lesson about those dynamics. Liu Quaingdong tells Rubenstein that this is one of the lessons that he brought with him when he started Jingdong Mall.
Jingdong Mall was Richard Liu’s second chance to make a business work. He tells David Rubenstein that the mall was particularly important because he had a family to support. His grandmother, the woman who raised him, was very sick and in need of medication. He had everything riding on this project. Because he had learned so much in his previous business endeavor, Liu was able to translate that to a larger margin of success. Jingdong Mall did very well for a number of years. In 2003 SARS became a huge issue for the Chinese public. This is when he decided to move Jingdong Mall to the Internet and rename it JD.com. Go Here for more information
JD.com was a novel idea in a way because many of the websites in 2004 were in a sense, shady. Richard Liu Qiangdong did not want it JD.com to become known as one of those websites. He made sure that their marketing was honorable, and their merchandise was of high quality. It was not a trap that he wanted his customers to fall into. Liu Quiangdong wanted them to feel empowered by their purchases with the company.
Today, his adjustment in business practices have been a considerable eye-opener for many people in the industry. JD.com is regarded as one of the biggest e-commerce websites in the region. He explains to David Rubenstein that he only hopes to continue this success as a company grows. It is always a time for growth with JD.com.
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