Richard Liu says that when Jingdong was conceptualized in the Summer of 1998, the profitable business was extremely modest. After a few productive years, with a reliable business model and personalized marketing, Jingdong was able to expand tremendously in popularity. The current billion-dollar corporation, at the time, grew naturally to include twelve variety shops within the city of Beijing.
Richard Liu says heartily the collaborative business was enormously successful. However, in 2003 China experienced an outbreak of SARS and the trade had to redefine itself.
The CEO and Founder, decided to transform Jingdong in an exclusive e-commerce business, a decision that was made out of necessity. Richard Liu declares positively, that by change tactics, homebound consumers and his staff were able to continue conducting business without becoming susceptible to the devastating disease.
It was reasonably an honorable decision and one that Richard Liu sincerely believes he would make, over and over again.
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