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/