Richard Liu’s Breakthrough In The E-Commerce World

Richard Liu has been a force to reckon with in the e-commerce world. Richard Liu Qiangdong founded, the largest online retail store in China.

The success of his e-commerce business has been a result of Qiangdong’s visionary leadership and the incorporation of innovative technology. His success in managing the company to be among the leading in the world has been attributed to the lessons he learned from his past business venture failures and positions he held in his past job.

Before venturing to start, he had created a restaurant business that failed. He started the company while pursuing sociology at Renmin University. His failure in restaurant management was a challenge that he overcame by completing an EMBA program. Liu Qiangdong commenced his career by working at Japan Life, where he sold health products. However, his time at the company was short-lived as he progressed to start Jingdong.

Jingdong was his retail business that focused primarily on selling electronic products. The company experienced early success in the industry since he gained trust from his clients by only selling legit products. In 2003, the SARS epidemic struck China, and it forced all brick and mortar stores to shut down to contain it. The epidemic was a turning point in his business life since he decided to venture into the e-commerce platform.

The immense benefits from the venture made him change the company to and solely focus on online business. From 2004, the company has grown to distribute to other parts of the world instead of only focusing on China. Besides, Liu Qiangdong has made some significant achievements in the industry.

The company was listed in NASDAQ and began trading on the platform in 2014. By 2016, it had made it to one of the Fortune Global 500 members and by 2017 increased its number of users to about 220 million. It is the major competitor to Alibaba, ranking as the second-largest online retail store globally. Visit this page for related information.


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