Category: JINGDONG MALL

Richard Liu’s Business Journey

Richard Liu is a well-known person in China who plays an essential role in the business sector. He is mainly referred to as the pioneer of online shopping. Liu Qiangdong is the founding principal and the chief executive officer of Jd.com, one of the leading online shopping platforms in the world. The platform was officially launched in 2004.

Richard Liu came from a humble background and was raised by a poor father whose occupation used to be coal shipping. The little money he used to get invested in his son’s education. Today Richard is one the highly reputable and famous businesspersons in the world. Richard Liu attended the University of China where he studied his bachelor’s degree in sociology. As he was studying his degree, he came to realize that he had no real passion for social science and fell in love with computer programming. Richard started attending private programming classes and used his knowledge to do some programming for local companies with the university vicinity.

The little cash he earned from his part-time job, Richard invested it in a hotel business which unfortunately collapsed after some months. Richard Liu continued with his studies, and after getting his bachelor’s degree, he joined the postgraduate school of the International University of Europe and China and studied his master’s degree in computer science and programming. Refer to This Article to learn more.

After completing his studies, Richard started working as a director of computer and business in a Japanese company in Beijing. The company was a pharmaceutical industry producing health products. Richard worked for the company for several years, and later he left the company and started his business.

Richard Liu together with his wife founded a mall in Honking known as 360Buy in 1998, and it was the only supplier and retailer of magneto-optical products in China. By 2002, Richard’s mall had grown into twenty more other malls distributed in various parts of the country. Later in 2003, China was affected by the SARS outbreak forcing Liu to shift his business online. Officially, he launched it in 2004 and today JD.com is the best e-commerce platform in China.

 

Visit: https://www.jd.id/richard-liu-jd-ceo-about

 

Liu Qiangdong, The Man On The Move

 

Richard Liu Qiangdong is the founder of JD.com. JD. Com is an e-commerce company based in China. He is a self-made entrepreneur who overcame economic challenges.

Liu Qiangdong is an inspiration to entrepreneurs that anything is possible. Richard Liu was born and raised in Jiangsu, a Chinese province. He had a fun childhood experience and had many friends. His parents owned a coal shipping company in the province and taught him how to do business. They also encouraged him to work hard at school and pursue his dreams. Richard Liu appreciates his parents for being a voice of reason when he did not want to continue.

After completing secondary education, Richard Liu enrolled in a sociology program and earned a bachelor’s degree. He realized that he needed to broaden his horizon to increase the chances of getting a good job. He learned computer coding and computer science. He wanted to be as versatile as possible. After graduation, he was hired by Japan Life where he put his skills to good use. The management of the company was pleased with his performance and appointed him the director of computers. Visit This Page to learn more.

Richard Liu Qiangdong left the company in 1998 to start his business. He felt that it was time for him to create his own company after acquiring skills. He rented a room in Beijing to sell magneto-optical products. He developed a strong relationship with clients which led to tremendous growth. While he had many competitors in the retail industry, he was unique because he only sold authorized products. Customers trusted him to offer quality and legal products.

Many companies sold fake products without value. He not only distanced himself from dubious competitors but also focused on offering authentic items. Liu Qiangdong gained customer loyalty, and within a short time, he had many customers. He turned the small business into a profitable brand while others struggled to stay afloat. However, the outbreak of SAR in China affected business operations. Richard Liu Qiangdong not only survived the ordeal but also proved his ability to adapt to new situations. He moved his business online and turned it into a profitable venture.

 

More on: https://www.forbes.com/profile/liu-qiangdong/#711217232c0d

Richard Liu Quiangdong Speaks About Jingdong

 

Richard Liu Qiangdong is the talent behind the globally successful e-commerce platform, Jingdong, which is the largest retailer in China besides being the most profitable internet company. JD.com, with a net worth of $57 billion is among the two biggest e-commerce companies in China with the company expanding in size and command, courtesy of their innovative business approach. The success of JD.com has not only made Richard Liu Qiangdong a notable figure in China’s corporate world but has also made him a billionaire with a net worth of $11 billion.

Liu Qiangdong has also been recognized by the “Business of Fashion Top Performing Businessmen of 2018”. An award that is very well deserved by Richard Liu Qiangdong. It is a reflection of his consistency and excellence in his business.

At only 44 years old, Liu Qiangdong’s  fortunes makes him one of the richest young business executives in China and the world in large. However, building Qiangdong’s e-commerce empire was an uphill task and a battle of wills as he had to overcome a myriad of challenges. As Richard Liu recounted in an interview at the World Economic Forum (forum), there were rough times that tested his willpower and aptitude but his innovative mind saved the day. Much to the dismay of an enchanted audience at the WeForum, Liu Qiangdong narrated his brush with foreclosure during the SARS outbreak in 2003. The SARS outbreak spelt doom to Liu’s budding business because it meant that employees and customers would not interact without contracting the virus.

At the time, Richard Liu Qiangdong’sbusiness consisted of 12 stores in Beijing, where he sold magneto-products and computers parts. He had started the enterprise in 1998 by opening 1 store and had managed to expand to 12 stores by 2003 when the disastrous outbreak occurred. Upon the SARS outbreak, Liu had to close the 12 stores and decided to operate from 1 store. However, this was highly ineffective and Richard Liu had to think beyond the obvious to save his business. View Additional Info Here.

Subsequently, Richard Liu Qiangdong decided to take his business online and he, therefore, formed JD.com. Today, JD.com is one of China’s most efficient e-retailer, delivering more than half of their orders within 6 hours and 97% within a day. Richard Liu Qiangdong is an alumnus of the Renmin University of China where he studied Sociology and also holds an EMBA from the China Europe International Business School. Before starting Jingdong, Richard Liu worked as the Head of Computers and Head of Business at Japan Life.

 

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

 

Richard Liu Qiangdong Successful Venture In JD.com

 

Richard Liu is the founder and CEO of JD.com, part of China’s dominant e-commerce platforms, presently worth more than $57 billion. Richard Liu studied a degree in sociology in the Renmin University of China and graduated in 1996. While still a student, Richard Liu Qiangdong spent a lot of time in freelance coding work. He also worked in the family business and has also at one point ventured into the hotel industry.

In the year 1998 Liu Qiangdong started out in new business ventures. In 2004 JD.com an e-commerce platform was launched, starting off by selling electronics and it gradually grew to the sale of a variety of products in a period of almost 6 years. The sale of quality original products and issuing legitimate invoices fueled the rapid growth if the company. Most of the products at JD. Com that have higher sales are consumer goods, foods, and fashion items.

Liu Qiangdong banks on finance, logistics and technological excellence to ensure the smooth running of the company. The firm delivers products to the customers in China and Globally. 57% of the deliveries are done in less than six or so hours. Product turnover at his company is approximately 34 days and is projected to be less than 20 days in the near future. The company has set up more than 500 logistics center to ensure that the business is smooth. Customers are usually given the same best quality standard and there is no discrimination in customers’ service. View More Information Here.

The firm is set to expand to South East Asia, the Middle East, Europe and then America as envisioned by the founder, Richard Liu Qiangdong. He recognizes that expansion of the business is not easy bearing in mind that different setups may require a different approach as well as partnering with other companies to ensure success.

Liu Qiangdong also desires to better the profits and give back handsomely to the company’s shareholders. Richard Liu would wish to train the young people venturing in business to always treasure integrity as a virtue for growth. The 44-year-old husband and father of two consider family the greatest achievement.

 

See also: http://www.jd.hk/liu-qiangdong-jd-ceo-about

 

Richard Liu Qiangdong Discloses His Grand Plans For JD.com

According to Richard Liu Qiangdong, JD.com is set for a major expansion of its services to reach out to European and North American markets. The celebrated JD.com’s Chief Executive Officer and Founder made the revelation at Davos, Switzerland, where he had attended the World Economic Forum meeting.

 

Richard Liu Qiangdong founded the e-commerce giant in 2004. Since then, he has been personally involved in all the management aspects of the company. As a result, JD rapidly grew from a small online retailer to a leading player in the Chinese online retail industry. Currently, the company’s net worth is estimated at more than $56 billion and the founder at above $11 billion according to Forbes.

 

According to Richard Liu, a reliable and efficient logistics network is arguably one of the key drivers of his company’s success. Since the inception of JD, Richard Liu has made heavy and innovative investments in logistics infrastructure. As a result, JD became the first e-commerce retailer to offer same-day delivery services of products to its clients within China. The provision of efficient services made JD the choice retailer for most consumers. Currently, the company enjoys a strong customer base of more than 300 million consumers across China.

 

Speaking at CBNC news during the WEF meeting entitled “An Insight, An Idea”, Richard Liu emphasized the importance of a robust, reliable, and efficient logistics network for a successful expansion of JD into Europe and America. According to the high-flying CEO, the company is planning to make considerable investments in its European logistics infrastructure before commencing full-scale operations. Currently, it takes a week for JD to deliver products to customers within mainland Europe.

 

Richard Liu also disclosed that JD.com is planning to take its logistics business public to raise more funds for the planned expansion. The logistics business is entirely owned by JD.com. According to Richard Liu, the thriving subsidiary will most likely list in China or Hong Kong. Additionally, the CEO hinted at a possible dual listing. Dual listing occurs when a company offers its share on more than one stock market. Find More Information Here.

 

Already, JD.com has launched a fundraising round at its logistics business. The fundraising round has attracted notable partners like Google, Sequoia Capital China, WeChat, and Hillhouse Capital Group among others.

 

More about Richard Liu Qiangdong on https://vivo.brown.edu/display/rl11

An Insight Into JD.com Founder And CEO, Richard Liu Qiangdong

 

Billionaire Richard Liu Qiangdong was interviewed at the 2018 World Economic Forum Annual Meeting. The thirty-minute interview titled, An Insight, An Idea with Richard Liu, posted on the Forum’s website on January 24, 2018, gave us an insight of JD.com and the man who founded it, Mr. Richard Liu.

Richard Liu Qiangdong, Founder, CEO, and Chairman of JD.com, a global giant in the e-commerce platform. Mr. Liu Qiangdong made a name for himself when he took his physical store and started JD.com, selling his products online.

 

About Richard Liu Qiangdong

 

Mr. Richard Liu Qiangdong graduated in 1996 from the Renmin University of China with a degree in Sociology. After graduation, he accepted a director position for Japan Life where he worked for two years. Although he graduated with a Sociology degree, he grew up in a family who had a small family business and eventually followed in his family’s footstep and opened his own company called JD.com.

At the end of the interview, Mr. Liu was asked what is the thing that gives him the biggest pride. He responded by saying it was his family. To his wife and children, the best husband and father, to his parents and sisters, he wants to be the best son and brother, and his employees to be the best boss. Go Here for additional information.

 

About JD.com

 

At the beginning of the interview, Mr. Richard Liu mentioned that the name of his company was created with the initials of his then-girlfriend and his own last name when asked how he came up with the company name. In 1998 he opened a physical store selling computer accessories and expanded to twelve stores in 2002.

When the SARS breakout in 2002 happened, the majority of the population became home-bound resulting in closing all of his twelve stores temporarily. Selling online was the solution for his company to stay profitable.

E-commerce is the wave of the future for his company and at the end of 2004, he closed all twelve physical stores permanently and JD.com has seen exceptional growth since. As of the beginning of 2018, JD.com market value reached $60 Billion and has become one of the top internet E-commerce platforms in China.

 

Additional reference article: https://seekingalpha.com/article/4226658-jd-com-will-richard-liu-deliver-2019

The Seal Award Goes To JD.com

How JD.com Got Its Start

JD.com, also known as Jingdong is the largest e-commerce company in China. JD.com has humble beginnings; the company was created out of necessity. Richard Liu is the creator of JD.com, and he is an innovator who was always looking for ways to improve his company and its products. Liu started out only selling optical products, and his company grew to have 12 stores.

In 2003, there was a SARS outbreak in China that left Liu with a shortage of workers and customers. Liu wanted to keep selling his products, but he did not want to put anyone’s health in danger. He had the idea to sell his products online instead of at stores, and that idea is what made Jingdong take off. Liu was able to close all of his stores within 2 years. JD.com seemed to have a life of its own, and Liu became one of China’s richest entrepreneurs. Go To This Page to learn more.

 

How JD.com received the SEAL award

Recently, The JD.com corporate blog published an article about Jingdong. Jingdong ships products to 99% of China. Apart from being a company that is efficient, it is also environmentally conscience. JD.com has invested much time and expense in its recycling efforts.

Jingdong recently launched the “Green Stream Initiative”. The new initiative to deliver products in the reusable green boxes has been welcomed across the industry and is expected to be replicated by other companies soon. It is necessary that the companies try to find ways to reduce carbon emissions and Jingdong has been trying innovative ways to be one of the eco-friendliest companies out there.

Their recent step in the article “JD.com Launches New Reusable Package Initiative” is a big one. It signifies that the company has put their full force behind making the company a truly environmental company.

It created the largest recycling initiate in the country. This initiative covers a large number of cities in China, and it has allowed over 1 million articles of clothing and 400,000 toys to be recycled. This recycling project has gotten attention from various companies around the world that are sure to follow JD.com’s positive example.

 

The Future of JD.com / Jingdong

JingDong is moving up. It is publicly traded; it’s shares are doing extremely well, and they have been climbing. Richard Liu wants his company to be the number one e-commerce company in the world, and at the rate that it is growing, it is a real possibility.

 

More about Jingdong Mall on https://cn.nytimes.com/technology/20180619/google-china-jd-com/Tech%20in%20Asia%20-%20Jingdong%20Tags%20page/