Richard Liu, popularly referred to as Richard Liu Qiangdong, is a Chinese business mogul. He is well –known for his role as the founder and Chief Executive Officer of the Chinese e-commerce giant, JD.com. Richard Liu is also popular for his exemplary leadership skills. Since he established JD.com in 2004, the company has experienced a tremendous growth and development, courtesy of Liu Qiangdong. To date, the company has an estimated net worth of more than $57.6 billion. Liu is worth $11 billion according to a recent ranking by Forbes.
JD.com’s impressive growth is also attributed to the commitment of Richard Liu Qiangdong in the provision of high-quality authentic products and services. Even though the company started as an electronics and electrical products outlet, the company has, over the years, increase the range of products in its online store. The products offered include Fat Moving Consumer Goods, apparel, toys, fresh vegetables, and meat among others. The company has also invested in a robust logistics network to ensure fast, single day delivery to customers.
Richard Liu has also entered into a strategic partnership with world leading brands in a bid to expand his reach to a wider customer base. One of the most significant partners includes Walmart, an American retail giant. As one of the shareholders in JD.com, Walmart has increased its stake to 12 percent. Richard Liu also acquired Walmart’s online platform and rescued it from an imminent collapse due to financial distress. In another mutually beneficial partnership, Richard Liu Qiangdong invested a total of $397 million in the luxury fashion retailer, Farfetch. In the deal, JD.com opened its superior online platform and logistics network to Farfetch. As a result, the two companies have attained a good reach to the wider Chinese market.
Richard Liu has also mastered the art of patience in his success as a businessman. Immediately after graduating from the Renmin University of China, he decided not to sign up for a job. He felt that no job could be more rewarding than his own venture. For this reason, he spent much of his valuable time doing freelance programming work. The coding work eventually equipped him with the necessary skills to start his own technology –aided business. Later on, Liu decided to improve his management skills and knowledge. Consequently, he enrolled in the China Europe International Business School, where he graduated with an EMBA. See This Page to learn more.
Armed with practical computer skills and knowledge in business management, Richard Liu then sought the necessary experience. Richard Liu took up a job with Japan Life, a company which dealt in health products. During his two years stint at the company, he gained the required leadership experience in the business. He served as the director of computers and business. In 2003, he decided to set up his own business, which grew to become JD.com in 2004.
Additional Reference: https://www.crunchbase.com/person/richard-liu-e9b4