The History of Richard Liu Qiangdong’s JD.com

Richard Liu Qiangdong was born in Suqian town, Jiangsu Province, China. His parents worked as coal shippers. They instilled in him the value of working hard, getting a good education and encouraged him to excel in all that he did. He attended primary and high school in his home town. He graduated from The People’s China University with a degree in sociology. Since the employment opportunities in the country were very competitive, he decided to widen his learning.

After graduation, Richard Liu Qiangdong worked in Japan Life. Japan Life is a large-scale supplier of natural supplements. He worked hard and made use of his knowledge education till he was promoted to Director of the firm’s computer department. He parted ways with Japan Life in 1998 with the aim of becoming an entrepreneur. Richard Liu Qiangdong opened up his first shop, a rented spacious retail, and named it China’s Technology Hub.

He made a sale of magneto-optical products. He specialized on offering exquisite customer service and relation, simple and easy transactions, and technology use with the goal of showcasing business ventures. Despite rough competition from vendors, Richard Liu Qiangdong outshined all other entrepreneurs by dealing with only authorized items. By then, China vendors were in the era of selling products that had depreciated in value, faux items.

This helped Richard Liu Qiangdong in distancing himself from the competition. He saw a business opportunity to start selling authenticated products of high retail quality. Five years into his own business, he had made a business empire bringing in massive profits. He renamed his business into JingDong. He rebuilt his retail store of magneto-optical with brick and mortar. Following the SARS outbreak in the country, a lot of small retail businesses were closed down.

Richard Liu Qiangdong changed his business model to selling online and renamed to 360Buy JingDong. These attracted a lot of customers. He worked hard to provide a perfect shopping platform which catered for the needs of the customers and guests. He later renamed his site to JD.com after forming business relationships with vendors who sold their products on his site.

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