Richard Liu Quiangdong, also known as Richard Liu or Liu Qiangdong, is a well-known entrepreneur and founder of China’s premier online marketplace JD.com, also known as Jingdong Mall. The shopping network now supports over 100 million active shoppers, and is worth over US$57.6 billion.
Richard Liu Qiangdong comes from a humble background. He was born in 1974 in the Jiangsu Province in China to parents who were employed in the coal-shipping business. After his secondary school education, he enrolled at The People’s University of China, earning a Bachelor’s degree in Sociology in 1996, and later earning an EMBA from the China Europe International Business School.
Richard Liu’s first employer was Japan Life, a company marketing natural supplements. He earned early business success here, growing his career within the company, and eventually held the position of Director of Computers.
In 1998, Richard Liu Qiandong left Japan Life to strike out on his own. He rented retail space in the technology hub of Beijing, and sold magneto-optical products, focusing on providing exemplary customer service and unwavering commitment to quality. This formula paid off, and Richard Liu’s business enjoyed immense growth, expansion and success.
In 2003, during China’s SAR outbreak which affected many small businesses, Richard Liu’s entrepreneurial acumen and ability to adapt to changing circumstances allowed his business to not only survive but thrive, and expand to become an industry leader. He was able to recognize the changes coming to brick and mortar retail stores, and pivoted his business model to focus on e-commerce. This change paid off handsomely, and JD.com was born.
Soon Richard Liu Qiangdong began marketing not just magneto-optical goods from his older stores, but diversified into daily essentials, and high-end luxury items on JD.com. As business expanded,he formed crucial partnerships with other giant retailers like Walmart and Google.
In 2014, JD.com became the first China-based company to be publicly traded on the NASDAQ. JD.com continues to expand into new markets like Europe and Thailand. And Richard Liu Qiangdong continues to stay at the helm of the company as CEO, and continues to guide the daily operations and strategic planning to ensure all aspects of the company’s success.
Contact Richard Liu: richardliu.wikidot.com/