What you Need to know about Richard Liu Quiangdong
Richard Liu Quiangdong is the president and CEO of JD.com. Liu created this company from the ground up. Last year, weforum.com did a live interview with Liu; in the interview, Liu spoke about how he got the idea to start this revolutionary company.
After graduating from Renmin University of China with a degree in Sociology, he realized that he wanted to get into business. Liu Qiangdong studied business at the China Europe International Business School and he obtained his EMBA. Liu decided that he was going to spend a few years working for a company.
He knew that he wanted to be an entrepreneur, but he needed time and training first. Liu was highly dedicated to his company, and soon he was serving as the company’s director of business. See This Article for additional information.
The Idea for JD.com
Liu decided to venture out on his own in 1998. He opened up a store that sold optical products; he called the store Jingdong. Liu Qiangdong was innovative and professional in his business dealings. Within just five years, Liu was able to open 12 stores in the country. Liu was proud of his outstanding accomplishment, but something changed the trajectory of his company.
The Start of JD.com
In 2003, China suffered from a devastating SARS outbreak. SARS is highly contagious, so Chinese citizens were encouraged to stay in their homes. Liu wanted to be able to meet his customer’s needs without putting them and his employees in danger. That is how he came up with the idea to create JD.com.
Liu began to sell his optical products online and deliver them to his customer’s homes. Within just two years, the company had grown so much that Liu no longer had to keep his stores open; he was selling all of his products online. Now, JD.com is the largest e-commerce company in China.
Find more information on http://corporate.jd.com/liu-qiangdong-jd-ceo-about
Richard Liu Qiangdong stands out in the business world for both his approach to his work and his success. He founded JD.com, one of the largest e-commerce businesses in China. Liu hopes that his story can help teach young people that they can do well in life while maintaining their integrity.
How He Started
Richard Liu Qiangdong’s family worked in the transport industry, but Liu himself began his business career with a restaurant. That business failed, but he moved on to found a retail company in 1988. That company would eventually become JD.com. Richard Liu initially focused on sales in a physical storefront, but that changed when the SARS outbreak of 2003 threatened his employees. He experimented with digital sales and shipping his products as an alternative that avoided the risk of physical interactions during the outbreak.
The State of the Company
That simple choice became the foundation for the modern company. Richard Liu Qiangdong chose to focus on providing good service and quality products, which allowed JD.com to flourish. It currently stocks nearly every type of product that consumers may need and can deliver them to almost all of China within a day.
Plans for the Future
JD.com is still growing. Richard Liu hopes to expand his operations until his business is the best in the world. He is currently focusing on expansion within Asia but hopes to spread outward until he has significant operations in every region. Liu’s expansion strategy relies on a mixture of local partnerships, acquisitions, and general growth, but the exact balance depends on each region’s unique characteristics.
Richard Liu also dedicates some of his time to speaking arrangements. Richard Liu Qiangdong often discusses his business and the industry as a whole, with a special emphasis on innovation and the practices that allowed him to succeed. Go Here for related Information.
More about Liu on https://jdcorporateblog.com/about-liu-qiangdong/