Seeing And Seizing Opportunity, Richard Liu Qiangdong

JD.com is a leading e-commerce platform in China. With billions in revenues, the company continues to grow due to the vision and unique experiences of it’s founder and CEO, Richard Liu Qiangdong. Born into a traditional Chinese family in 1974, Richard Liu went on to The People’s University of China where he earned his Sociology degree. While studying here, he became interested in computer coding and understood how much potential these skills held for his future. Richard Liu earned an entry level job at Japan Life and quickly was promoted to Director of Computers. He worked under several titles at the company before striking out on his own in 1998 when he opened his own store with the name of Jingdong. He sold magneto-optical products, focusing on selling authorized and authentic products instead of the many counterfeit products that had been getting into the market.

This set him apart and by also focusing on customer service, Richard Liu’s company grew. Soon he had 12 different stores but not long after he was also faced with a challenge that would change he path of his company and future. In 2003 the SARS outbreak in China kept Richard Liu’s customers and employees at home. He lost millions of yuan but soon saw that e-commerce held far more potential than brick and mortar stores. He also saw the shift of how customers shopped during this period and soon shifted his entire business online, closing his brick and mortar stores.

Whereas many would have failed during this period, Richard Liu Qiangdong not only changed his mindset but he adapted to the changes in the way people shopped and grew his company further. Richard Liu developed proprietary e-commerce platforms and focused on providing the best customer service. He eventually set up the world’s largest fleet of drones for same and next day delivery services and began pursuing partnerships with other manufacturers who wanted to sell their authentic items on his platform. In 2017 Richard Liu Qiangdong was a Variety500 Honoree. His net worth is estimated to be approximately $13 billion dollars.

Read full article : https://www.forbes.com/profile/richard-liu/#291a7bfd2677

Leave a Reply

Your email address will not be published. Required fields are marked *