Richard Liu Qiangdong is the founder and Chief Executive of JD.com, a leading Chinese e-commerce platform. Liu rose to fame in the business world after steering JD.com from a small Beijing-based magneto-optical products shop into a multi-billion global e-commerce giant. Under Liu Quiangdong’s visionary leadership, JD.com is currently valued at $57.6 billion, with only about 15 years of operation. Richard Liu is worth $11 billion according to Forbes.
Liu Qiangdong is a self-made billionaire. He graduated from the famous Renmin University of China in 1996, after which he spent most of his time doing coding work as a freelancer. Little known to him, the experience he gained in computer programming gave him the much-needed skills to drive his future business to unimaginable levels.
But before he had ventured into any business, Richard Liu Quiangdong decided to advance his studies. He enrolled in the China Europe International Business School where he further honed his business skills. He later graduated with an EMBA. Immediately after graduation, Richard Liu Qiangdong joined Japan Life, a company that dealt with health products. During his two years stint in the company, he served several important roles were instrumental in shaping his destiny. He served both as the director for computers, and as director for business.
Equipped with advanced computer skills and business management experience, Liu Qiangdong ventured into business in 1998. He opened a shop that dealt in magneto-optical products. The shop was located in Beijing, and he named it “Jingdong.” Qiangdong’s hard earned skills did not play him a trick, and within five years, his single shop had multiplied to 12 stores across Beijing. Unfortunately, the outbreak of the SARS epidemic dealt a blow to his booming business.
Being a highly resilient entrepreneur, Richard Liu Qiangdong did not give up. In a strange twist of events, the downturn served as an eye-opener for him. He set off from his brick and mortar establishment and ventured into online business. In 2004, Liu established JD.com, and one year later, he closed down all his physical stores. He was fully online. See This Page for more information.
Liu Qiangdong discloses to the WeForum that the secret behind his success in business is the ability to accept change and rethinking of his business strategy. Additionally, Quiangdong attributes his success to his honesty. One of the critical pillars of JD.com is dealing with genuine products coupled with innovative customer service.
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