Richard Liu Qiangdong is the Founder, CEO and Chairman of JD.com, the largest retail company in China. Richard Liu is a graduate of Renmin University of China with a degree in sociology. He started JD.com after a series of failures and misfortunes. JD.com is now worth $60 billion and holds 167,000 employees. World Economic Forum hosted Richard Liu Qiangdong in its annual meeting with David M. Rubenstein, co-founder and co-executive chairman of The Carlyle Group, as the interviewer.
Rubenstein started the interview with questions about the company and how Richard Liu began his career. Richard Liu answered that in college he started his first business which was a restaurant. Unfortunately, it failed as he was not completely free. Then, in 1998, he tried again but this time it was a retail company selling computer accessories. Unlike the first attempt, he was successful this time to open up to 12 stores. However, SARS epidemic started and with it came the idea that changed Richard Liu’s future completely. Go To This Page for additional information.
When Rubenstein asked how SARS affected the business, Richard Liu said that he had to close the 12 shops. While the managers were meeting, one of them said that if they cannot have physical communication with customers then let it be online. After two years of analysis, the stores were completely closed this time to be replaced with JD.com. Rubenstein had a question about the reason that made the company grow rapidly in a short period of time. The key was the quality of products and the best experience they offer to the customer. They started with IT products, on to digital, then mobile phones; adding a new product each year.
Richard Liu declared, when Rubenstein asked him about his future plans for the company to expand, that he looks forward to bringing the best products to China, then going to southeast Asia, the Middle East, after that Europe and the US. Liu emphasized the abundant products provided by JD.com; that reached 1 billion product, made it excel its top competitor; Walmart.
Liu Qiangdong has also been recognized by the “Business of Fashion Top Performing Businessmen of 2018”. An award that is very well deserved by Richard Liu Qiangdong. It is a reflection of his consistency and excellence in his business.
Richard Liu Qiangdong wants young entrepreneurs to believe that they can still be successful through integrity. He wants people to remember him one day as being “a good guy”.
See also: www.joybuy.com/richard-liu-jd-ceo-about