The Story Of Richard Liu Qiangdong

Introduction

Richard Liu is the creator and CEO of JD.com, also known as Jingdong Mall which is an e-commerce platform in China that is worth $57.6 billion. According to Forbes, Liu’s net worth is estimated at $11 billion. In 1996, Richard Liu Qiangdong graduated from Renmin University with a degree in sociology. He spent most of his free time sharpening his programming skills by doing some coding work. After graduating, Liu got a job at Japan Life and carried out different roles. In 2004, Richard Liu closed down all his other ventures and put all his focus on his new e-commerce business, JD. From there, Jingdong has been growing and has become Alibaba’s chief rival.

How he Built JD.com

Richard Liu Qiangdong built JD.com from scratch, and it is now the largest retail store in China. Liu came up with the initials JD from the first letter of his first name and the first letter of his wife’s second name. Liu believed that e-commerce would be the future of business because it is easy to use and convenient to most clients that do not want to visit stores. According to Richard Liu, the online market was chaotic. Therefore, he wanted to come up with new rules, new prices, and deal with genuine products. In 2004, JD.com used to sell IT products only due to limited funds to restock. By the year 2010, Liu’s e-commerce had everything clients needed in stock.

At the moment, Jingdong has 167,000 employees. The good thing about JD.com is that clients can order their products from all over the world. If a client requests for a product around China, it will be delivered in 6 hours only. Delivering products out of China may end up taking like 10-15 working days. In recent years, the most popular goods on JD.com are consumer products and fashion. According to Liu, in the next decade, the biggest e-commerce store in China will be the biggest in the world.

Conclusion

With only two children, Richard Liu believes that they should discover themselves and maximize their potential. Additionally, he believes that for you to become successful, you need integrity. Both of Liu’s parents are alive, and he still takes time to listen to whatever they tell him. Generally, Richard Liu wants to be a great man in society, and someone people will live to remember. Refer to This Article for related information.

Finally, Liu enjoys swimming and traveling during his free time.

 

See Also: https://www.businessinsider.com/who-is-the-amazon-of-china-alibaba-dangdang-or-jingdong-2011-9

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