Richard Liu Qiangdong’s Road To Success Made Simple

 

Richard Liu Qiangdong is a Chinese business magnate.

How did JD.com get the name of Jingdong?

When Jingdong Mall was created in 1998, Richard Liu Qiangdong created the company’s name by morphing together him and his current wife’s names. Perhaps a business’ name isn’t as important as many people think it is, after all.

What did Richard Liu do before founding Jingdong?

Richard Liu Qiangdong first went to college at the Renmin University of China, located in the nation’s capital, Beijing, to study sociology. He completed the undergraduate-level program in 1996, then enrolled in a master’s degree program at the China Europe International Business School.

As soon as he graduated from the program, he started a restaurant – he tried to start a restaurant, that is. Although Richard Liu has proven his great business mind to the world time and time again over Jingdong’s 21-year lifespan, his first major business endeavor proved to be a major failure.

Throughout his time at the Renmin University of China and the China Europe International Business School, Liu picked up countless computer programming gigs as a means of earning money. Go Here for additional information.

How did JD get started?

After leaving Japan Life, a respected health and beauty company, he was moved to create his own business. Mashing together his and his then-girlfriend’s name, Liu came up with the name of Jingdong.

Liu found a four-square-meter retail space for lease that was located in the middle of one of Beijing’s hottest shopping malls. Shortly after finding the prime storefront plot, he began selling computer accessories at Jingdong. The year was 1998.

Jingdong then grew for five consecutive years

Richard Liu Qiangdong fared objectively well as an entrepreneur, growing the small business of Jingdong into an enterprise by 2003. The business had 12 stores at the time.

Liu remembers the great SARS pandemic of 2003. Shortly after news broke of it hitting Beijing, where Jingdong operated, Liu wasn’t able to reliably keep all 12 businesses open because many employees were either sick or afraid of contracting SARS. In 2004, he founded JD.com and quit doing brick-and-mortar business.

In an article with Gizmochina.com, “Google Invested 550 Million” with Jingdong. The partnership will include the promotion of JD.com products on Google’s shopping service. More details have now emerged that the partnership will also see Google selling its products on JD.com.

 

More about JD.com on https://www.gizmochina.com/2018/06/22/googles-550-million-investment-in-jingdong-could-see-its-hardware-products-selling-on-jd-com/

Richard Liu Qiangdong’s JD.com Is Asia’s Fastest Growing Online Company

 

JD.com alias Jingdong, formerly known as 360 buy, is one of China’s largest e-commerce company with its headquarters based in Beijing. The company was established by Richard Liu Qiangdong in 1998 and went online in 2004. The company currently has 30.8 million registered and active users. The name JD came as a result of merging his first name with his wife’s last name.

Richard Liu’s journey in life is a classic rag to riches bout through serious determination, realistic goals, and ambition. He was born in Suqian, Jiangsu province to his parents who owned a small transportation company, shipping coal to and from the North and South of China. During his younger years, he spent his free time learning computer programming and earned an EMBA.

In college, Richard Liu ventured into the restaurant business with money acquired from programming work, after his grandmother got sick and his family’s business brought in little or no revenue thus rendering them poor. The business failed after a few months, and two years later he opened 12 physical retail stores specializing in the sale of computer appliances. The business venture, however, was disrupted due to a SARS outbreak in 2003 that forced his employees and clients to stay at home resulting in the loss of 8 million yuan. Nevertheless, Richard Liu stayed behind with his management team rethinking about his business model and steps that he will take towards starting an online store. In 2004, he closed down all his stores and ventured into e-commerce.

Liu founded JD.com, a retail online store which over the years dealt with various items, with consumer goods, food, and fashion items being the hottest selling products. Richard Liu rejected an offer in 2005 to sell his website for 18 million yuan and in 2007, expanded the site from selling computer appliances to a variety of goods for his customers. See Related Link for additional information.

Richard Liu’s online store stood out and grew faster than the others. He realized existing online store sold many counterfeit products, inflated prices of consumer goods and the overall market was chaotic. He resulted in selling genuine and good quality products to consumers, issue authentic invoices and receipts, and provide the best browsing experience to his customers through his functional, interactive and easy to use website.

JD.com has been compared to well-known e-commerce sites such as Amazon due to a similar business model. Deliveries in Asian countries, for instance, Beijing can take as little as 3 hours, and international shipping takes approximately 10-15 days.

Richard Liu Qiangdong’s plans for expansion include bringing the best quality products from around the world into Asia, keep his focus on E-commerce only and take over South East Asia before venturing into Europe and Asia.

 

Learn More: https://dentistry.uth.edu/directory/profile.htm?id=6826e3bd-18bb-4e2a-a87a-f3b9c93134d1

The Detailed Journey Of JD.Com Under The Leadership Of Richard Liu Qiangdong

 

All through his life, Richard Liu Qiangdong aspired to be a politician. Having been born in a well-up family in China in 1973, he was lucky to be nurtured and brought up in an environment where he would get all the support that he needed from his family.

An interview called “An Insight, An Idea” sits down with Richard Liu to discuss his career and how he has transformed the retail industry. His company JD.com is now one of the largest retailers in all of China and it has been very successful.

His parents were reputable business people who operated the coal business all over China. With the aim of following his dreams, Richard Liu Qiangdong was taken to the People’s University of China, an institution that was renowned for producing the best politicians in China and internationally. This was where he would study politics and Sociology in the quest for his dream of becoming one of the political gurus in the country.

After finishing school in 1996, he got out and started the usual job for most of the school leavers, tarmacking. He did the “job” for more than a year and decided that he would not wait any longer to get employed. He decided that he would start a business, which he would run as he waited for better fortunes to come his way. While in the university, Richard Liu had learned some skills in computer programming. He had been using the skills to earn some money to survive while at school, and from that, he had also made some savings. View Related Info Here.

Using the savings and some loan that he borrowed from his family, Richard Liu established a restaurant in Beijing. The business went on for a while, and before long, it collapsed. This was a massive blow to the young man, but he never despaired. In 1998, he started another business, which required more of the computer programming skills that he had learned while on campus. He began the JingDong, an organization that would be assisting clients with tech issues, and also supplying computer software and hardware.

Within a short period, JingDong had grown into a vast enterprise, expanding by opening branches in various locations, both in and out of Beijing. Richard Liu Qiangdong decided that to enhance his services to the customers of the firm, and also to expand more effectively, he would transform JingDong into an online entity. He named it JD.Com.

Visit Liu on https://www.crunchbase.com/person/richard-liu-e9b4

 

Richard Liu Qiangdong Notes That The China-US Trade Wars Will Not Affect JD.com

 

Apparently, a significant number of individuals are already worried by the escalating trade war between China and the United States. The two country’s top administration have been introducing tariffs from any product emerging from any products or service coming from the other country. However, Richard Liu Qiangdong, who is the founder and owner of JD.com does not feel that the trade war between the two countries will lead to serious impacts on his business.

Richard Liu’s JD.com is an online retail platform that has been making headlines due to its extreme expansion and market entry strategies. The vision of the e-commerce store is to dominate the Chinese market before deciding to move to other countries around the world. Currently, JD.com has more than three hundred million customers in a single year, which is a clear demonstration that the company is expanding faster than what competitors might have anticipated. See This Page for more information.

Besides having more than three hundred million customers who are active in nature, the company recorded about $56 billion in revenue in the period between 2016 and mid-2017. This means that the entity is recording significant revenues, some of which can be compared to those recorded by other e-commerce platforms in the world such as Amazon. JD.com might not replace Amazon in the world but it is evident that it is giving Alibaba, another e-commerce retail store in China a run for its money.

While speaking about the trade war, Richard Liu Qiangdong wanted to eliminate fears that JD.com will significantly be affected because it has a significant partnership with United States based companies such as Google, Walmart, and Tencent. However, the chief executive officer highlighted that there is not relationship between the financial partners and the current trade wars between the two countries.

Richard Liu Quiangdong highlighted that JD.com will continue with its partnership with the firms based in the United States because he was positive that the trade wars will not continue as they won’t benefit any person. However, a significant number of customers are worried that products from the United States might be available at very high prices. Richard Liu played down the fear by highlighting that JD.com has the capacity to source other similar products from Europe or other countries around the world.

 

Visit Liu on https://www.crunchbase.com/person/qiangdong-liu