Richard Liu is the CEO and founder of Jingdong Mall, one of China’s largest e-commerce platform. He pursued and graduated with a degree in sociology from Renmin University in 1996. While pursuing sociology, Liu spent most of his time learning to code through freelance work where he developed a deep passion for computing and programming. He later enrolled in China Europe International Business School to pursue an EMBA. Upon graduation, Richard Liu joined the workforce in Japanese healthcare products company where he served for two years in different capacities ranging from director of business to director of computers. Liu resigned from the company to venture in entrepreneurship.
Being a business-minded person, Richard Liu Qiangdong ventured in different business ventures ranging from restaurant to healthcare, but all his businesses failed. However, he never gave up. In 1998, he opened a shop in Beijing selling a myriad of electrical products. He named this shop Jingdong Mall.
Jingdong Mall underwent robust growth, and by 2003, there were twelve physical shops under this name spread in Beijing. In 2005, the company was hit by the SARs epidemic which threatened the business environment, making it volatile. Richard Liu implemented his knowledge and skills in computing by opening an e-commerce shop selling Jingdong’s products via this platform. He named the platform JD.com.
Currently, according to Forbes Magazine, JD.com is estimated at a net worth of $58 billion and Richard Liu a net value of $11 billion as estimated by Forbes.
Since its inception, JD.com has been on a mission to enhance the customers’ experience in online shopping. Currently, the company has embarked on a mission to unleash the future of shopping to all online shoppers. The company is partnering with tech firms to develop modern advanced and efficient systems for faster and timely delivery of goods to customers. Get Additional Information Here.
Jingdong have already set a record regarding fast delivery of products to their customers in China whereby this is done on the same day of order or latest next day. Currently, Richard Liu is working with associate tech firms to unveil a drone delivery system. This system is set to improve the efficiency of the delivery of goods providing customers with unmatched delivery speed.
Visit their international affiliates on http://www.jd.hk/
Mr. Richard Liu Qiangdong was born in Jiangsu province 14th February 1974 in China. He is the Chief executive officer and founder of JD.com. It is one of the leading e-commerce platforms in China estimated to be worth 57.6 billion dollars. After completing his primary and secondary education, he joined the People’s University of China to pursue a degree in Sociology. Richard Liu, later on, starting teaching himself programming skills through freelancing. This endeavor leads him to start JD.com e-commerce site.
Richard Liu started out with a retail shop in Beijing. Liu sold magneto-optical goods. Even though there were competitors in the market, his main aim of starting this business was to be unique in the sense that he sold authorized products because most businesses sold counterfeit products. This quality eventually helped him achieve consumer’s loyalty. For the next five years, he enjoyed the triumph and expansion of his business.
The Business took a turn in 2003 when there was an outbreak of SARS IN China. It affected the retail businesses a lot all over the country because people had to remain indoors. This forced Richard Liu to venture into e-commerce in 2004 so as to sustain his business. He closed all of his retail stores by 2005 so as to solely focus on the e-commerce platform. View More Information Here.
Mr. Richard Liu first named his e-commerce company 360 Buy Jingdong before renaming it JD .com. At first, he continued selling his magneto-optical merchandise but then, he ventured into Fashionable and luxurious commodities which were not available in China. Richard Liu Qiangdong made this possible by having partnerships with big companies all over the world including Google and Walmart.
JD .com has grown to satisfy every customer either a beginner online shopper or a frequent and impulsive online shopper. Richard Liu Qiangdong has seen fit to even curb the shipping problem to rural places by use of technology. Now, JD.com uses drone technology to ship products either the day of order delivery or the next.
In 2014, JD.com decided to go public by trading on NASDAQ. With Mr. Richard Liu’s impressive personality, he still involves himself in daily activities and each and every point of the company’s decision making.
See also: https://www.forbes.com/profile/liu-qiangdong/#711217232c0d
Since JD.com is a big part of the online Chinese retail industry, the company knows they’re able to help people with all the options they have. They also spent a lot of time figuring out the best way to keep helping others and that’s what allowed them to do things the right way. As long as they always helped people, they could keep giving them the things that would allow them to do everything on their own.
JD believed in a lot of changes and that’s how they could do things on their own. Between working hard to help customers get the options they needed and always coming up with new ways for improvements, JD.com knew just what they needed to do to keep helping their customers. It made sense for them to always focus on these changes while also giving back to the people who need their help. As long as the company felt good about this and felt good about what they could help their customers with, they knew it would take a lot of work to make things better. Go Here to learn more.
.It wasn’t always easy for JD.com to make things better for customers. In fact, they knew they had to work twice as hard since they focused on quality instead of quantity. JD.com also believed they were doing everything right and that’s what allowed them to keep helping customers in a way other companies were unable to do at that time. There were a lot of options that helped the company succeed and helped people see how they could make things better on their own. For JD.com, this meant they always had to give people the help they were looking for.
In the recent company’s blog “JD Delivery Stations Get Smart Ahead Of CES Debut”, JD has talked about the launch of two smart delivery stations in the cities of Changsha and Hohhot, strengthening the e-commerce giant’s autonomous logistics capabilities.
Technology changes things and JD.com knew they had the right way to create positive changes. No matter what they did or what they relied on with their business, they could make things better for all the customers. It was important to them to always show people they were doing things different and they were trying more to help others. The time they spent figuring out positive ways to help the community allowed them to do even more than when they began.
See also: https://www.forbes.com/companies/jd/#62d9b6464f20
Every entrepreneur has a story to tell, and Liu Qiangdong is no different. He started from humble beginnings and through hard work emerged to be one of the most prominent entrepreneurs of his time. He is the founder of JD.com, the largest e-commerce retail store in China.
Richard Liu Qiangdong has always had the entrepreneurial spirit. He started by opening a restaurant business. However, the company did not do well, but he continued to push on. He has also worked for Japan Life selling healthcare products. He later decided to open a business after completing his studies the business grew and was doing so well.
Even though he went to study sociology, Liu Qiangdong decided to follow his passion for computer programming. He later decided to go out on his own by opening up a shop dealing with magneto-optical products. The business expanded to 12 stores. However, things did not go well for Jingdong, when a SARs outbreak hit the country. Both customers’ staff had to remain at home due to the outbreak.
Richard Liu Qiangdong closed down all his stores and put more focus on the e-commerce store. He started by selling electronics and consumer goods. It was at this time that the idea to start JD.com came to mind in 2004.
Due to the company’s massive growth, it has attracted interest from the big players such as Wal-Mart. Walmart has a 12 percent stake in the company. See This Page for additional information.
JD.com also went into partnership with We Chat in 2014. The deal was for We Chat to promote JD.com services on its social network. The efforts paid off because JD.com went public in the US in the same year. Currently, the company has a net worth of $7.6 billion, and he invested in the Farfetch Company, the partnership will see the companies have massive reach in China. Jing-dong spent $397 million in the company.
Richard Liu’s aggressiveness has seen the company grow to be recognized as the largest online retail store. The company’s board cannot hold any meeting without Liu being present. There is no doubt that Liu has become an internet celebrity in his country.
In the efforts of creating smooth and open supply chain services, JD.com in China launched an advanced technology program known as “Medicine Open Tracing Solution”. This program was first announced in Beijing during the 2018 JD`s Big Data Summit. The pharmaceutical Open Tracing Solution program is designed in a way it easy to use and has a leverage IoT solutions to simplify data collection process.
This program is found in JD.com website in an Open Platform, and its primary purpose is to assess the quality of medicines from suppliers to consumers by providing significant tracing information. Pharmaceutical tracing program covers all the process from the production, medical usage, transportation, storage and marketing of drugs. Refer to This Article for additional information.
The formation of this program was triggered by the recent pharmaceutical incidences in China which entails the sub-standards medical products more, so vaccines products, which have been found expired or below standards in the past. The substandard products have increased concern on the safety, and sources of medicine consumers are using.
JD.com is also teaming up with various bodies to strengthen their capabilities and enhance quick achievement of this project. The partnering industries include smart hardware manufacturers, medical software providers, and industry associations entitled to oversee the whole development of “Internet of Things” ecosystem devices which will promote medical traceability, improve standards and promote transparency across the firm.
According to Jian Pei, the tracing solution would enhance transparency and accountability to every party involved in the pharmaceutical industry. Some of the parties include; company’s consumers, businesses and governments. Jian Pei is the head of JD.com Big Data and Smart Supply Chain company.
At the beginning of the year 2018, JD.com launched its Blockchain Open Platform aiming at providing blockchain capabilities to a variety of industries. JD.com is leveraging its ability in various sectors including technology, the supply chain, logistics and other related sectors empowering its partners with its initiative programs. China Pacific Insurance Company was the first company to employ open blockchain platform where it used it to develop a convenient traceable system for all invoices sent online also known as ‟fapiao,” which are the official receipts for business required in China.
More about JD.com on https://boards.greenhouse.io/jdcom
Richard Liu Qiangdong is a Chinese billionaire who is often compared to the Jeff Bezos of Amazon because they both are self-made. Richard Liu Qiangdong started JD because he had to shift his physical retail business to online forcefully. If you are not new to the e-commerce industry, you would already know the contributions of Richard Liu Qiangdong.
JD.com has become the second-largest retail company in China today after Alibaba and is considered to be the best when it comes to electronic goods. But, the company offers much more variety than its competitors, and their delivery system is also the best. The owner aims to become number one overtaking Alibaba in the coming years, and the process for it has already started.
Richard Liu Qiangdong was initially interested in the world of politics, but he understood later on that for financial security, he has to attend a business school to get a good paying job. There are other retail companies that are shifting their operations online because it is more profitable and the cost of operations is also low compared to physical companies. Read This Article for additional information.
However, Richard Liu Qiangdong started the online retail business when the entire country was facing a SARS outbreak. The online retail business has been witnessing tremendous growth in the past few years due to the tactful marketing and retail strategies that Liu Qiangdong has conceptualized and implemented. It is not easy to grow the online retail business in a country where Alibaba has already been dominating, but it is what JD has been able to achieve in a considerably much shorter period of time.
Richard Liu Qiangdong is open about his competition in the e-commerce market and feels that a healthy fight allows his company to do better. Liu’s company invests heavily in improving the system and upgrading their procedures to cut down on the cost and increase the efficiency of their delivery system. Richard Liu Qiangdong wants to make sure that his company is always on the top of new technology and adapt faster than any other e-commerce company. He feels that it is the only way to cruise ahead of the competitors.
Visit Liu’s page on https://www.crunchbase.com/person/qiangdong-liu