Richard Liu, From Past To Present

Richard Liu, founder and CEO of JD.com, is one of the wealthiest and most successful individuals in China. Not only is his company the largest online retailer, the largest retailer overall, and the second-largest e-commerce business in China, but it also brings in the most revenue of all the internet companies in China: In 2018, JD.com made 70 billion dollars. Today, the company is worth around 60 billion dollars, and Richard Liu, also known as Liu Qiangdong, has an estimated net worth of 12 billion dollars.
However, Richard Liu Qiangdong came from humble beginnings. His family was relatively poor. They had a small company; his father was a sole trader who sat by the canal doing transport. Growing up, Richard would work with his father every so often. However, given how busy his family was, Liu was mostly raised by his grandmother, who was sick. But the family couldn’t afford to buy her the medication she needed.
When Liu was old enough, he went to college in Beijing, where he studied sociology. He also had his first brush with the business world when he opened a restaurant business. Unfortunately, the restaurant tanked, and Liu believes that part of the reason his foray into the F&B sector was unsuccessful was that he was unable to devote enough time to the restaurant. See Related Link to learn more.
Upon finishing college, Liu wasn’t able to afford traveling and working abroad like the rest of his peers. So, he decided to start his own business in China, starting a small retail company with a physical location that sold computer accessories out of a small space that was no more than four square meters. This retail company grew and eventually became what we know today as JD.com.
As one of the richest men in China, Liu views his wealth as a sense of responsibility; it is a resource of the society, and Liu is responsible for using it to grow both the company and the society. Accordingly, Liu has already donated half of the shares he’s cashed in all towards charitable and philanthropic causes. In the end, Liu aspires to leave something for China: a beacon for all young entrepreneurs, one that shows them that the best path towards success in business is through integrity. And, even though the 44-year old Liu doesn’t plan to retire till he’s 65 at least, he still would like to be remembered as a good man once he’s out of the game.
Despite his numerous successes, Liu is most proud of his family. He is married and has two children, one of whom is a 2-year old daughter. Liu Qiangdong also has a strong relationship with his parents, another thing he maintains religiously.

 

 

Learn more about him on https://www.forbes.com/profile/richard-liu-1/

 

How Richard Liu Qiangdong Created One of China’s Largest Companies

JD.com, one of China’s most successful e-commerce platforms, is the brainchild of Richard Liu Qiangdong. His approach to business helped the business to grow at an unusually rapid rate. While he does expect the rate of growth to level out eventually, he still anticipates future expansion.

Richard Liu believes his business philosophy is one of the most important factors that distinguishes JD.com from its competitors, which makes it a topic of interest to those who want to understand his success.

Richard Liu Qiangdong began his company in 1998, but Richard didn’t focus on digital sales at the time. Richard Liu Qiangdong relied on traditional storefronts to sell computer accessories. That changed during the SARS outbreak of 2003. He chose to send his workers home to protect them from infection. That naturally led to a decrease in sales, especially when combined with the public’s reluctance to go out in public during the outbreak. Digital sales were a natural way to solve that problem.

That transition became the defining moment in Richard Liu Qiangdong’s career. Digital sales were relatively new at the time. Many of the stores that operated over the Internet relied on counterfeit items and other dubious strategies. Richard Liu Qiangdong decided that his business would only sell legitimate items and would strive to offer good, honest service to customers. That choice allowed JD.com to stand out from the competition and thrive.

Richard Liu’s current efforts with JD.com still emphasize the user experience. His company has been focusing on rapid deliveries in recent years. More than half of all orders within China get delivered within six hours. Most of the rest reach their destination in less than a day.

In addition to his corporate work, Liu spends a great deal of time speaking about business and the economy at major events. He spends his free time enjoying China’s deserts and spending time with his family. Go Here for more information.

 

Follow him on https://twitter.com/liu_qiangdong?lang=en