A mention of JD.com and the man that comes to mind is one Richard Liu Qiangdong.
Liu Qiangdong is one of China’s most prominent and wealthiest businessmen. Richard Liu’s business life is characterized by simple steps of seizing opportunities and making the opportunities profitable. This mantra is what has made JD.com a successful online business in China, ranked third in China’s online business space.
Richard Liu Qiangdong’s first business venture was a hotel he operated while he still attended university at Renmin University. Using the lessons he learned from his parent’s canoe business, Richard ensured that the hotel venture remained operational. Sadly, the company suffered and was shut down because he had to juggle school and work. After university, Richard Liu decided to take on a different path, not seek employment but start his venture. He opened his computer selling business in 2004, and the Jingdong brand grew to a 12-outlet operation. Go Here for more information.
The SARS pandemic caused significant concerns around the world, and Jingdong operations suffered during this time. The management agreed that they had to close up the physical stores until the SARS issue was addressed. During this time, Jingdong’s management was considering opening an online as a response to the hit the business had taken. This decision, two years later, would birth JD.com and the success that it now enjoys today.
JD.com has a market valuation of $60 Billion with the value expected to go up further with the expansion plans the company has in mind. The brand is looking to expand to Asia, Europe and the United States of America in the coming years. It offers various products key among them technology equipment, household appliances among others.
Despite his growing success, Richard Liu has not forgotten the importance of family. He is a loving husband and an admiration to his two kids. In his own words, the name Jingdong was a product of a section from his wife’s name, Jing and Dong, from his last name. This indeed shows where his family lies in his life.
Richard Liu Qiangdong is a business leader whose life offers much insight into what one can do to be successful. He remains a role model for many in the business scene.