For anyone that is looking to become familiar with the work of Richard Liu Qiangdong, there is an interview dubbed “An Insight, An Idea with Richard Liu” featured on the weforum.org website. Richard Liu is well known in China as the owner of JD.com, the largest web-based commercial retailer. The company is worth a staggering 57 billion dollars. Richard Liu tells the interviewer that he got the idea for JD.com by connecting his name and his wife’s name. The full name of JD.com is Jingdong Mall. It has been in operation since 2004, with Richard Liu working the business world since 1998.
One of the most interesting things about JD.com is that it was different from the other online retailers at the time that it was created. Richard Liu explains to his interviewer that many of the online retailers in China at that time in counterfeit and knockoff items. These items would be of very poor quality and they did not offer returns. He decided that he wanted JD.com to offer good quality items to their customers with a guarantee behind them. He began expanding the business from its original focus of computer parts to almost anything imaginable at this time. He explains that this process took about six years to complete. Click Here to learn more.
Business is not always been so successful for Richard Liu. He had a venture with the restaurant business that did not go well. He explains to his interviewer that he believes the business did not go well because he did not have the time available to him to make it work. Liu learned a lot from that venture and applied those techniques to his growth of JD.com. He believes that success is centered around one’s ability to apply themselves to the work.
This is why JD.com has become so successful. His hope for the future of his company is that they become the number one retailer globally. The main competition that they will see in this market is going to be from Amazon.com. Richard Liu believes that if they continue to offer their products with the guarantees and value that they have offered to the Chinese public it will be a feasible opportunity.
See also: https://variety.com/exec/richard-liu/