The Business Life For Over 80 Years
Richard Liu is the founder and the CEO of the largest and most successful e-commerce retailer in China “JD.com” the company that he built from scratch due to his untiring efforts. JD.com runs and is successful in many different areas. Richard Liu is also named as Richard Liu Qiangdong which is his nickname in his business field. The net worth of the firm is approximately $58 billion while the net worth of Richard Liu by Forbes for the firm is around $11 billion.
Richard Liu graduated with a sociology degree from the Renmin University of China followed by a degree of EMBA from China Europe International Business School. After Richard Liu failed in the business of restaurant which was shadowed by selling healthy food products around the world Richard Liu Qiangdong started the business of selling computer parts. Liu Qiangdong began his business in Beijing in the year 1998 where he sold the spare parts in his retail outlets.
After facing a severe crisis in 2004, his company was hit by a significant issue due to which he had to shut down his physical stores and shifted his business to the online market. This decision of moving from conventional retail stores to online market was the start of an e-commerce venture with net revenue of $37 billion in 2016. Later in 2014, 15% of JD.com was acquired by Tencent, the owner of WeChat who promised to promote JD.com actively through its social networking. As soon as the company was announced to be public, it gained alliance from shareholders.
In an interview, Richard Liu claimed that presently the organization has been encountering 100% development consistently, except for the year 2017 in which the JD.com has been concentrating on expanding the nature of client benefit, shipping speed, and such. Since their development has extended far enough, they are focused on developing the quality of the experience, and they trust that this center is the thing that will impel them to the central spot around the globe. The success and expansion of JD.com overlap with another giant “Alibaba” making them the giant competitors in the market. See This Page for more information.
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.