Richard Liu Qiangdong is a household name in the e-commerce retail sector. He is widely known as the Chief Executive Officer of JD.com, also referred to as Jingdong. Richard Liu founded the company as a small startup in 1998 and developed it to become one of the leading e-commerce retailers in China.
Richard Liu Qiangdong has also made a name as one of the most resilient businessmen. The self-made business mogul is not a novice in business. He first ventured into the catering business, which eventually collapsed. Later on, he decided to use his skills in computer programming and parts to start a computer parts business. He set up a shop to sell computer accessories in downtown Beijing.
Owing to his sharp business acumen, the business quickly grew from a single shop to more than twelve shops in less than five years. However, in the wake of 2003, the SARS virus swept across China. The epidemic seriously affected his business .leading to an eventual closure in 2003. Go Here for related Information.
Following the closure of his brick and mortar establishments, Richard Liu Qiangdong decided to shift to online trading. He started off with his previous stock to set JD.com, which is currently a leading e-commerce retailer in South East Asia.
Because of Qiangdong’s success in selling other goods online, Richard Liu Quiangdong has now been ranked by Business of Fashion as a top 500 “Most Influential Person In The Fashion Space”. Fashion is, of course, a $2.4 trillion market on its own.
Being one of the most celebrated business leaders in the world, Richard Liu Qiangdong was one of the business personalities, who graced the recently held World Economic Forum meeting in Davos, Switzerland. Speaking during the meeting, Richard Liu disclosed the secret behind the impressive performance of Jingdong.
According to Richard Liu Qiangdong, JD.com has risen to the apex of online retail business as a result of meaningful partnerships with like-minded brands. For instance, in 2014, Richard Li entered into a partnership with Tencent, the Owner of WeChat, a leading Chinese online social network site. Following the deal, Richard Li surrendered a 15% stake to Tencent. In return, Wechat continuously and prominently promoted JD on its site. The results were astonishing. After a record two months, JD listed on the Nasdaq in the US, becoming the first Chinese private company to offer a massive float.
Richard Liu has also partnered with leading brands like Walmart and Farfetch. Through the partnerships, JD opens its logistics network and online platform to the partners for a mutual business relationship.