Achieving the amount of success that Richard Liu has performed in a short period in the e-commerce industry is no small feat. He is amongst the wealthiest Chinese in the world with Forbes estimating his net worth to be around $12 billion. Richard Liu founded JD, one of the premium and the second-largest e-commerce companies operating out of China. The company has expanded exponentially in the last few years and has grown to be amongst the most coveted and progressive e-commerce companies in the world. JD is often compared to Amazon, and Richard Liu Qiangdong is often equated with Amazon’s founder Jeff Bezos as both of them have similar rags to riches story and are self-made billionaires.
Richard Liu Qiangdong started small by opening a small retail shop in Beijing and helped it become a huge success. The success he achieved with that one store helped him open a chain of retail stores across the country. The retail business he started achieved considerable success and also helped him gather some capital to expand his business operations as well as inventory. However, the success of his physical retail business was short lived as during the time China was suffering from SARS all over; the business had to deal with huge losses. When the number of injuries it suffered became too much to deal with, he switched his retail operations to online retail completely. Initially, his e-commerce site was called 360buy but was later renamed as JD after the abbreviation of Richard Liu and his former girlfriend’s name.
Richard Liu Qiangdong has played a pivotal role in the success that his company has achieved. Not only has he helped the company grow so fast, but he has also assisted in developing business strategies that managed to make the company more competitive and the second-largest in the e-commerce industry of China. Richard Liu is also a well-educated man and has studied MBA from the China Europe International Business School and also graduated in sociology from the Renmin University of China. He has become a role model for thousands of young entrepreneurs and business executives across the globe who dream of replicating his success.
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