Richard Liu Qiangdong: From Early Years to Current Entrepreneurship

 

It’s unclear of what Richard Liu Qiangdong birth date actually is, but it’s between March 1973 and February 1974. He grew up in Sugian, Jiangsu province, an impoverished region of China. His parents owned a small transport business and shipped coal.

When he enrolled at Renmin University, he focused on a degree in sociology. He worked toward that degree even after realizing he didn’t want to go into politics. After graduating, he enrolled at the China Europe International Business School and earned an EMBA. Around the same time, he started working for Japan Life, a Japanese company that manufactured health products.

At the same time, he worked as a freelance coder to earn extra money. Between all those duties, he also tried to run his own restaurant. After deciding to pursue a career in business, Liu Qiangdong wanted to take a shot at being an entrepreneur. The restaurant failed and landed him in debt. View Related Info Here.

He worked off his debt and left Japan Life in 1998. Two years after his restaurant failed, he gave entrepreneurship another shot. This time around, Richard Liu Qiangdong had a better plan. He planned to dedicate as much time as was needed to make his business succeed. In 1998, the first Jingdong location opened in Beijing’s Zhongguancun High-tech Industrial Park.

At the height of his business’s success, China had to deal with a SARS outbreak. The outbreak was devastating for many businesses; especially Richard Liu’s which lost over eight million yuan in one year. By 2004, Richard Liu had another plan and moved his company online. JD.com was launched later that year. With his company finding success on an e-commerce platform, Richard Liu closed all 12 of his brick-and-mortar. locations by 2005. Richard Liu Qiangdong continues to utilize cutting edge technology, which he says is the platform of the growing global economic environment.

Over the last 14 years, JD.com grew into a $60 billion company with more than 300 million customers in China alone; that’s nearly the entire population of the United States. Richard Liu is often compared to Jeff Bezos, founder of Amazon, as they’re both self-made billionaires.

Because of Qiangdong’s success in selling other goods online, Richard Liu Quiangdong has now been ranked by Business of Fashion as a top 500 “Most Influential Person In The Fashion Space”. Fashion is, of course, a $2.4 trillion market on its own.