The e-commerce industry is one of the most fiercely competitive and gaining success in this field is not an easy task. However, Richard Liu Qiangdong has been able to prove the critics wrong and achieve phenomenal growth consistently over the years.
The thirst to achieve success has been instilled in Richard Liu Qiangdong from a very young age when he saw his parents work hard to ends meet. He knew that in order to achieve success, one should not compromise on studies and thus, completed his graduation in the field of sociology and went on to complete his masters in the field of business administration as well.
It helped him get the basic knowledge of running a business and how to grow it over a period of time. Richard Liu Qiangdong started restaurant before he entered the retail sector, but unfortunately, it didn’t work and it compelled him to enter a different industry.
He chose the retail sector, considering the growth it witnessed due to the China’s economic boom. He took a four square meter shop on lease at China’s Technology Hub in Beijing and it went on to achieve considerable success in the next few years, resulting in the business growing from one shop to several stores in various parts of the country. Richard Liu Qiangdong switched to e-commerce in the year 2004, forced by the losses his company suffered due to SARS epidemic in the country. It marked the beginning of the success story that we know today as JD.com, which went on to become the first Chinese company to be listed on New York Stock Exchange. It is also the first e-commerce company to be listed in the Fortune 500 Global list.
Richard Liu Qiangdong has also used his JD.com platform to raise money for any different charities. He feels that the platform is the best way to raise money as people are looking to donate for important causes but do not know where to turn to. He has helped many charities by allowing them to use their platform.
About Liu Qiangdong: ir.jd.com/liu-qiangdong-jd-ceo-about