How Richard Liu Qiangdong Became a Success Sensation

Richard Liu Qiangdong was not always the successful entrepreneur he appears as in his interview with David Rubenstein. He was born in 1974 and his parents owned a transporting business. Working with them to help raise money for his sick grandmother he needed to do something more to make a difference. He learned to program and started a restaurant business while studying in school. His restaurant failed and he had to find another option.

In 1998 Richard Liu Qiangdong started Jingdong named by combining his name and his first girlfriend a fact that Richard joked and laughed about now in his interview. In 2003 however Richard Liu Qiangdong was facing a trial with the SARS outbreak. With it being dangerous to sell to customers face to face Richard Liu made a decision that would end up making his company the success it is today. Instead of selling face to face Richard Liu made the decision to start moving towards online sales and started closing his physical stores.

At the time however online sales were something of a new thing. Many counterfeit products and less-than-honest and he describes it as something pretty chaotic. He believes his company became so successful by making commitments to their customers other online companies were not offering. He also said in his interview that the key to his success was having a large variety of products that are of very good quality.

Now JD.com as it is now known employs over 167,000 employees and 500 logistics centers. His deliveries in Bejing take only 3 hours and outside the city can be as short as 6 hours to 20 hours depending on location. His hope for the future is to become the number one e-commerce business in not just China but the world. He aims to be as big as his largest competitor Walmart. He also has ambitions for leaving a legacy for China. He hopes to embolden a future generation of entrepreneurs to believe that with hard work they too can be like him. His most proudest accomplishment is his two children and wife Zhang Zetian who is famous for a photograph of herself with milk tea as well as her businesses. They married in 2015.

Learn more about Liu : https://variety.com/exec/richard-liu/