Category: Jingdong

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