Richard Liu Qiangdong – Owner/CEO of E-Commerce Business JD.com

After a few small business ventures in the years before 1998, Richard Liu Qiangdong began a business selling computer parts in Beijing, China. His enterprise grew to 12 brick and mortar stores.

In the early 2000’s, most Chinese businesses were in distress due to the SARS epidemic, and though Richard Liu’s own business felt the effects of this, he still managed to buffer most of the negative impact by switching to online business only in 2004, naming his company JD.com. This move turned out to be the catalyst that rocketed his business to a multi-billion dollar performer in just over 12 years. In fact, JD.com has become the first publicly traded Chinese company on NASDAQ.

Richard Liu is a self-made entrepreneur raised in a family that instilled the importance of hard work and the value of a good education. Qiangdong concentrated on these goals becoming skilled in computer science and coding.

He began selling magneto-optical products, as did many other vendors, but Richard Liu separated himself from his competitors by focusing on exceptional customer service and streamlining the ordering experience for his customers, as well as offering the highest quality products rather than cheaper versions which are common in the industry. Read This Article for additional information.

Richard Liu’s business model quickly attracted other vendors who began seeking to offer their products on his site. His company became known as one that could provide buyers with high-end merchandise and other brands not normally available for sale in China.

JD.com also continued to grow as he forged partnerships with global giants Walmart and Google.

As a successful entrepreneur, Richard Liu always looks ahead and employs innovation to solve problems or create new avenues. Richard Liu has embraced technology to solve the shipping challenges presented when moving product to customers based in remote locations. His fleet of drones is currently the largest on the globe, making same-day or next-day deliveries possible to a population of over one billion. Expansion into Thailand and Europe is also being planned.

Liu Qiangdong still fills the role of CEO for his company, continuing to contribute to the success and growth of JD.com.

 

More about Liu on https://www.linkedin.com/in/richard-liu-54849942/

The Business Life Of Richard Liu Qiangdong

The business tycoon has many years of experience in the business world. Richard Liu Qiangdong is the pioneer of the renowned Chinese e-commerce platform called JD.com. In 2018, the assets of the company were valued at $12 billion. Richard Liu Qiangdong did not have a wealthy family when he was growing up and had to build his business on his own and from scratch.

Richard Liu Qiangdong is an inspiration to millions of people around the world due to his success. Some people attribute his business growth to his savvy business practices and intuition. Currently, his company serves millions of customers from different parts of China.

Richard Liu believes that innovation is crucial in improving an organization’s productivity. For that reason, he has ensured that JD.com adopts modern technology in facilitating business operations. He was born in a Chinese province known as Jiangsu. Richard Liu Qiangdong’s parents had a transport business where he would help when he was not in school. The parents instilled the values of hard work in him at a tender age and strived towards ensuring that Richard Liu acquired quality education. He excelled in his secondary school education and joined the university to study Sociology.

To increase his competitiveness in the job market, he acquired coding skills which he used to earn some income while at the university. Richard Liu Qiangdong got his first job at a local firm called Japan Life. At the organization, he impressed the management team with his skills and hard work and this earned him promotions. He became the head of the computer department. When he left his position at Japan Life, Richard Liu decided to start his own venture. See Related Link for more information.

The businessman ventured into the sale of computer accessories in a small store located in China. Some of the things that led to the expansion of his enterprise include customer-oriented policies and incorporation of technology in various business operations to promote organizational effectiveness. One of the main challenges that faced Richard Liu’s business was stiff competition.

To survive in the market, Richard Liu Qiangdong ensured that only authentic products were sold to the customers. After five years, he expanded his enterprise by opening more stores.

 

See also: https://www.bloomberg.com/billionaires/profiles/qiangdong-liu/

 

Richard Liu Qiangdong’s Motivation In Expanding JD.Com Operations

 

Richard Liu Qiangdong is a prominent China executive serving as the Chief Executive Officer and pioneer of JD.Com, China’s leading retailer. Given his excellence in governing the company, Richard Liu attended a television interview to give insights regarding the organization. His compassion to his wife inspired him to found JD.Com in 2004.

As such; he combined their names to title the retailer. Richard Liu postulated that the motive to make money for his grandmother’s medical treatment and zeal to travel abroad motivated him to put up the business. Richard Liu thus established computer accessories stores attending to his clients physically. Later, he closed almost twelve shops and decided to found an online retailer, JD.Com, which has experienced tremendous success throughout the years. View Related Info Here.

As JD.com’s leader, Richard Liu Qiangdong engages in operations that supplement to the growth of the organization continuously. As such, he recently invested in Farfetch thus boosting an affiliation on the corporations’ outreach in the nation. Besides, he oversees the BoF 500 operations, a definitive professional index influencing the fashion sector. The Business of Fashion editors selected BoF 500 based on the nominations, research, and extensive data analysis the BoF 500 members presented. 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.

The presence of Richard Liu at JD.Com has propelled the activities of the company. Currently, JD.com’s worth sums to approximately $57.6 billion. His expertise in the market accrues to his educational background and work experience.

Richard Liu Qiangdong went to the University of Renmin where he pursued sociology. During his free time on campus, Richard Liu Qiangdong advanced his capabilities by studying freelance coding. As such, he developed his skills and techniques in computer programming. Besides, he joined the China Business International Institution to advance his studies with an EMBA.

Upon graduation, Richard Liu Qiangdong entered the corporate globe beginning work at Japan Life. He played numerous responsibilities in the company for two years before leaving to found his firm. Establishing his enterprise set the pace for growth and prominence for Richard Liu. Currently, JD.Com influences the economy of China immensely. Besides, Richard Liu instructs JD.Com to greater heights by appreciating competition from other prestigious companies like Alibaba. His presence in the company has proven to be worthwhile.

 

See also: www.joybuy.es/liu-qiangdong-jd-ceo-about

 

Richard Liu Qiangdong, How I became The King Of E-Commerce

 

Richard Liu Qiangdong started Jingdong in 1998, at a time when the e-commerce sector was at its infant stage and the promise for growth was overwhelming. However, the relatively new industry was filled with reprobate traders who used underhand methods and did not uphold the promises they made to the customers. Richard Liu Qiangdong believes on having strong business ethics and installing a customer-oriented culture at Jingdong would win him more customers. Subsequently, Liu Qiangdong established JD.com on a promise of timely delivery of orders and selling authentic products.

 

Speaking in an interview at the World Economic Forum, Richard Liu Qiangdong said that he was savvy enough, to know at an early time, that selling online would be the future of sales. As such, in building his retail giant, he put into place solid strategies that JD.com has rode on, on its way to becoming a global e-commerce titan. According to Richard Liu Qiangdong, the future of JD.com is strongly reliant on the company’s appetite for innovations that fuels growth.

 

Jingdong is, in fact, one of the leading companies in the adoption of revolutionary technology such as robotics, autonomous technology, and AI. Richard Liu has been the main architect of Jingdong ’s success being the chief executive officer of the $57 billion e-commerce giant. Today, JD.com has built a vast infrastructural network that allows the company to deliver their customer’s orders in the shortest time possible.

 

The success of Jingdong has made Richard Liu a billionaire and also one of the key players that influence China’s e-commerce industry. Liu Qiangdong net worth is about $ 11 billion as estimated by the Forbes Magazine. His journey has been extraordinarily exceptional given his humble background. Growing up, Liu was introduced to entrepreneurship at a young age, as he learned from his parent’s transport business. Visit This Page for additional information.

 

Upon joining the university, Richard Liu first ventured into business and opened a restaurant. However, the restaurant went belly up because he did not dedicate enough time into the business. At the time, he was studying Sociology at the prestigious Renmin University of China. Before establishing Jingdong, Liu worked at Japan Life as the Head of Computers and also as the Head of Business. Richard Liu Qiangdong holds an EMBA the China Europe International Business School.

 

Source: www.joybuy.es/liu-qiangdong-jd-ceo-about

 

Essential Attributes That Have Facilitated Jd.Com’s Rapid Growth And Development Under Ceo Richard Liu Qiangdong

According to Forbes, Richard Liu Qiangdong is now among the wealthiest individuals, having a net worth of about $11 billion. As an entrepreneur, he’s the founder, and the CEO of JD.com – the largest provider of e-commerce services in China, with net revenue of about $60 billion. Through the support of the firm’s proficient leader, JD.com have had tremendous achievements, including the successful partnership with multinational corporates like WeChat, and Walmart.

Over the years, under the leadership of Richard Liu Qiangdong, the mighty JD.Com had experienced tremendous rapid growth, including of 2014 when it floated on NASDAQ Stock Market – the second largest stock exchange in the world which is based in the US.

Earlier this year, 2018, during the annual meeting of the World Economic Forum, Richard Liu Qiangdong was interviewed by David Rubenstein – the Co-Founder and Co-Executive chairman of the Carlyle Group, about their efforts in the transformation of the retail industry using Supply Chain Innovation. During the talk, this conscientious intellectual shared that, before he had completely shifted from physical stores to online selling, he made a comparison of the two to discern the more effective one. After comparing their production report, he noticed that with the online shop, the logistics costs were much lower and more efficient for their consumers.

When asked of how JD.com have managed its rapid development, surpassing even Dangdang Inc. which used to be the best then, Mr. Richard Liu explained that their transparency and sustainability were the key drivers of it. In emerging as the best, he had to ensure that his enterprise was authentic, and it wasn’t unethical like the existing providers, who were offering counterfeit products and cheating customers on the prices.

In essence of guaranteeing their consumers a favorable shopping experience, CEO Richard Liu Qiangdong guided his team of experts on ensuring they presented the appropriate logistics, including the issuance of genuine receipts and invoices. Get More Information Here.

While still on the talk, Liu quoted that, due to insufficient capital, JD.com was unable to satisfy all of their consumers’ interests at a go. Following their staunch commitment, and a visionary leader, however, this giant e-commerce ensured at the end of every year they added a new variety of product; and in 6 years, the firm had almost everything available.

To ensure they are the best in China, and even globally, Richard Liu Qiangdong highlighted that their key focus will be market valuation – the value they create for the society since they already have the rest of resources, including technology and finance.

 

Source Link: https://seekingalpha.com/article/4226658-jd-com-will-richard-liu-deliver-2019

An Inside View Of Liu Qiangdong

 

In a recent interview entitled “An Insight, An Idea”, Richard Liu Qiangdong spoke of his humble beginnings and shed some light on what once started as a small computer business that turned into China’s largest ecommerce website known worldwide as JD.com.

Richard Liu laughed shyly as he told the story of the name JD.com being inspired by his first love, joining together his first name and her last name. He teasingly remarked, “I wish my wife wasn’t here to hear that.”

Liu Qiangdong closed down his physical stores and started selling online in 2004. Toward the end of the second year they compared figures and realized online sales significantly increased their profit and they realized that ecommerce was the wave of the future.

What made Richard Liu so effective or unique? What made his company grow so rapidly? Liu Qiangdong states there were many knock off and counterfeits online at the time and the market was chaotic, so he made the conscious decision that they would not sell fakes. They would only sell quality products. Today his market value is $60 billion US dollars. He has over 167,000 employees, and counting. Last year alone they added 30,000 employees.

Does Richard Liu Qiangdong take his billionaire status seriously? You bet! “Being wealthy is a responsibility,” says Liu Qiangdong. “If you’re wealthy, you have resources in your hands to grow your company, grow your business and grow society as a whole.”

What gives him the greatest pride? “Family…I want to be a good son to my parents, a good husband to my wife, a good father to my daughters, a good boss to my employees, and a good partner to my business partners.”

Billionaire at 44 years old. What’s next? Liu Qiangdong says he wants to leave something to his countrymen, to instill pride, but most of all he just wants to be seen as a “good guy”. Click Here to visit their Linkedin page.

 

More about Richard Liu Qiangdong on https://www.scripps.org/physicians/18780-richard-liu?tab=overview