Richard Liu Qiangdong is the owner of JD.com, the largest Chinese e-commerce platform. He was in the United States recently. He enjoyed his stay in the country going through the streets without attracting much attention. In China, people, young and old, recognize Richard Liu being one of the richest people in China with a net worth of about $11 billion. Talking about how he got into e-commerce business, Mr. Qiangdong narrated a breathe-taking story dating two decades back.
The father and husband hails from a humble background. His love for technology got him into computer accessory business in 1998. Prior to getting the business started, Richard Liu Qiangdong faced financial challenges with his grandmother failing to secure medical care. He was also unable to further his studies abroad because of the challenges. The business changed his fate completely. It grew into 12 shops, still in computer accessory business-line.
All went well until the sars epidemic in China. He was forced to close down his businesses to protect his employees from contracting the disease. While at home, one of Richard Liu’s managers suggested that they should start selling goods online. They gave it a shot and before long, the business got off the ground. That is when he realized that e-commerce was the future of retail.
One product at a time, he filled the platform with a variety of products. He brought in one product at a time. The business grew rapidly to be worth over $60 billion with over 1 billion products. The variety of products gives the company a competitive edge. Customers have many options to choose from in JD.com. The company has 167,000 employees.
With a wide customer base and a sophisticated infrastructure, JD.com is not resting until it becomes a world leader in the e-commerce space. Richard Liu is looking to make it a go-to-source for authenticated goods in the world. The company looks to expand to Southern Asia and its presence is already being felt in Thailand and Indonesia. The graduate from Renmin University of China looks to eventually bring his business to the US. The business has extended its portfolio services to logistics by launching JD Logistics.
For details: jingdaily.com/tag/liu-qiangdong/