When it comes to shopping online, JD.com is usually where shoppers in China buy their stuff. It offers a wide range of products which makes it one of the biggest retailers in the country. The journey is not smooth sailing for founder and CEO Richard Liu Qiangdong and his company. But through hard work and skills, the company eventually became a retail giant.
Richard Liu Qiangdong started trying out entrepreneurship even before he graduated in the Renmin University of China. During his free time, he managed a restaurant. However, the restaurant business failed because of his limited time. One of Richard Liu’s motivation in having a business is to help her sick grandmother. That is why when he finally got his Psychology degree, he went to work instead of studying abroad. During his first year working, he was accepted in Japan Life, a company that sells essential oils. He eventually became the Director of Computers because of his knowledge of the subject.
Because the entrepreneur side of him is calling, Richard Liu Qiangdong left the company and started his own shop. Jingdong, which is the combination of his and then girlfriend’s name, was a shop that sells computer parts and accessories. Jingdong enjoyed a relative success nationwide and Richard Liu managed to get 12 branches of his business. Richard Liu faced one of the greatest challenges when his business was hit by the SARS Outbreak that happened in China in 2003.
Richard Liu Qiangdong decided to close the physical stores and sold his inventories through online and offline means. Observing that his online sales are better than with brick and mortar, he decided to go fully online, and the rest is history for JD.com.
What sets JD.com and other stores in China is its bleeding edge technology for logistics which is the best in the country. JD.com is also known for its efforts in curbing counterfeit products on its site and making sure that all the products are original and not counterfeit. Richard Liu Qiangdong plans to expand its operations to different parts of the world, including Europe, South East Asia, and America.
About Richard Liu: www.crunchbase.com/person/richard-liu-e9b4