The continued growth of the JD.com would not be possible without creator Richard Liu Qiangdong. Weforum expressed a keen interest in the development of the company and how Richard Liu believes that his own habits have pushed the company into a greater realm of success. Richard Liu Qiangdong credits much of the success of JD.com to his desire to provide an honest, secure, and safe online shopping experience.
Richard Liu is a college graduate from the Renmin University of China. He received a degree in sociology and begin learning about the business world. Richard Liu Qiangdong ran his own tutoring company as a student that did very well. He saved up money and took a loan from family members to start his own restaurant. The restaurant did not do well because as a student he did not have an appropriate amount of time to dedicate to it.
In 1998 he decided to try again. He had been out of school for some time and work for a variety of different companies. He wanted to try his hand at an electronics store. He founded Jingdong Mall, named after a former girlfriend and himself. Jingdong Mall proved to be his redeeming project. It did very well and expanded. He was eventually able to open more than a dozen locations throughout Beijing. When SARS hit the area, the company did begin to suffer, and Richard Liu made the difficult decision to change the business model to an online retail store.
Online retail was a very different type of business. Richard Liu tells interviewers at Weforum that he had to change the way he approached these types of customers. Many of them had learned to distrust online retailers. The reason for this was that many retailers at that time were sending out substandard products. Richard Liu wanted JD.com, a shortened version of Jingdong Mall, to become a staple. Very quickly it entered that role and continues to be a major retailer for the region. Richard Liu wanted to talk to Weforum about potential expansion into other countries and a global market. It is his hope that JD.com will continue this pattern of growth that they have been cultivating since 2005. See This Page to learn more.