Richard Liu Qiangdong: Titan of Asian E-commerce

Published / by TheRugbyUnion

Richard Liu Qiangdong is one of the better entrepreneurs of the game. He was born into a family of coal traders, and was fortunate enough to attend the higher situation. His undergraduate degree was in sociology, he took time out to improve his computing skills after that. Seeing as the trend was shifting from analogue-to-digital, he chose to improve with the changing reality. Sometime after that, he attended an European business school in China where he learnt business management. He also learned how to apply it in e-commerce. Soon after that, he was employed by Japan life. His computing skills made him a wanted employee. He was then appointed as the head of the computing department. With his sense of direction and duty, Japan life increased levels of profit.

After about five years with Japan life, he chose to start up a shop he and had all the skill and knowledge required to stand on his own. As a result, he started a magneto-optical product retail company. His company worked very hard with very good customer service. He also successfully opened about 10 branches around the region and the promise for the future was bright. Unfortunately, in the early 2000’s the SARS outbreak happened. This stopped consumer transactions and limited a lot of things. This was a bad period for the company, because people could not buy one-on-one.

A lot of customers were scared of coming out due to the fear of infection. Richard Liu Qiangdong had ti result to drastic measures. His projections for the year were not happening and it didn’t seem like the SARS epidemic was going to stop anytime soon. He decided to liquidate all his assets and use the money to start a new venture called are now worth an incredible 41 billion dollars and growing as time goes. Recently, they entered partnerships with companies like Farfetch, Walmart and WeChat. The partnership with WeChat allowed advertise their platform to almost a billion active users. This partnership helped a lot to foster the growth and Skyrocket sales.