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How Richard Liu Qiangdong Built A Successful E-Commerce Business

Richard Liu is the man behind the most successful e-commerce business in China known as JD.com that started operating as an online business in 2004. The company has been successful in the selling of products online to Chinese consumers. As the founder of the company, Richard Liu Qiangdong journey to building a company that has a value of approximately $60 billion has not been an easy one. He is a holder of a degree in Sociology and an EMBA.

 

Richard Liu has been fine-tuning his entrepreneurial skills since he was young. His patents were running a not so successful transport business. He also tried his hand in business while in the third year of college by opening up a restaurant. Richard Liu Qiangdong’s restaurant failed, but it was also an opportunity to learn. After finishing college, he was an employee for a business that was selling health products.

 

At this point in his life, his peers were going for further studies abroad, but he could not since it required a lot of money. Then his grandmother fell ill and so he opened his first store to make more money to afford medication. Jingdong as it was then known, expanded gradually to other 11 stores selling computer parts. In 2003 there was a SARS outbreak and the business moved to an online platform, and JD.com was born. Refer to This Article to learn more.

 

When Richard Liu Qiangdong started the online business, he was selling IT products only because of lack of funds, but over the years they continued introducing more products. Currently, JD.com is selling over one billion products on its online platform. It has employed over 167,000 employees who support the business at various levels.

 

Richard Liu is still working on improving JD.com global business for it to become as efficient as it is in China. JD.com seeks to improve the time taken to make delivery of products to countries outside China. As part of the business growth strategies, Richard Liu plan is for the company to start selling products that have been produced from other countries instead of having the china products only. Another plan underway is taking the online business to the American Market, Europe, Southeastern Asia as well as the Middle East

 

Lean more about Liu on https://chemistry-buchwald.mit.edu/people/richard-liu

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