Richard Liu Qiangdong is the founder and CEO of JD.com, the leading e-commerce company in China. The company is estimated to be worth over $60 billion as of early 2019. The success of this company comes after many years of hard work and application of unique strategies in its growth. Today, JD.com has over 100 million active customers and is currently rolling out cutting-edge technology that will offer customers a better shopping experience.
Richard Liu was born in Jiangsu province, China in a humble family. His parents owned a coal shipping company and therefore could not afford to give and leave the best life he would have wished for. However, they encouraged him to pursue education and work hard in order to excel in his endeavors. In primary and secondary school, Liu showed his academic might by performing exemplary.
He then joined the People’s University of China where he enrolled for the sociology program. He later graduated with a bachelor’s degree in this program although, in the course of his studies, his interest went more into computer science. Liu is a self-taught computer scientist who at one time was the Director of Companies for Japan Life, a large-scale provider of natural supplements.
Richard Liu Qiangdong left Japan Life in 1998 to start his entrepreneurial journey. He opened a store in Beijing that dealt with computer accessories. In 5 years, he managed to expand the business by opening a total of 12 stores in different parts of Beijing. Leave applied a unique approach in his business by coming up with exemplary customer service, and utilizing technologies that would offer customers a better shopping experience. Although there was competition in this industry, he managed to overcome it by offering high-quality products as opposed to competitors who engage in fake items. Refer to This Article to learn more.
In 2004, Richard Liu Qiangdong closed down then brick-and-mortar outposts to concentrate on e-commerce and business. He found out that by running an e-commerce business, he would reduce overhead costs and increase sales. It is at this juncture that JD.com was from the period for about 15 years now, it has grown into the biggest retailer in China and by extension in the world.
Because of Qiangdong’s success in selling other goods online, Richard Liu Quiangdong has now been ranked by Business of Fashion as a top 500 “Most Influential Person In The Fashion Space”. Fashion is, of course, a $2.4 trillion market on its own.