The History and Growth of Richard Liu’s Business Empire
Richard Liu Qiangdong is the founder of JD.com and acts as the Chairman and CEO of the firm. Born in a small village in the Jiangsu province in China, he grew up without most standard commodities like running water and electricity. Although his parents descended from wealthy merchants, Liu came into the world when they had lost all their wealth and worked as rice farmers.
Due to their poverty, Richard Liu learned how to manage his small resources. Liu would stay at home with his grandmother and prepare meals with the few items they had. On special occasions, they would go and bribe the meat vendor to get the fattiest piece of pork. The fat they get after cooking would be useful for cooking other meals on other days. This survival tactic helped the young boy develop an innovative mind.
Liu never got discouraged due to his background. Richard had an insatiable curiosity that made him continuously seek knowledge. Liu dreamed of becoming wealthy to help other people around his village. He passed his college exams and got admission to Renmin University. The villagers contributed money and some food that helped him in his journey and the first few days. He graduated with a degree in sociology in 1996 and later went to China Europe International Business School to increase his business prowess.
Liu Qiangdong began his entrepreneurial journey with a small restaurant that collapsed in less than a year due to theft by the staff. However, he did not give up on the dream. A few years later, he began Jingdong, a small magneto-optical shop. His store snowballed due to his customer relations and the quality of his products. Within five years, he had several retail shops across Beijing, Shenyang, and Shanghai.
In 2004, his business shifted to an e-commerce shop to allow people from around the globe to purchase products. Liu’s ventures have been experiencing tremendous growth due to his excellent leadership skills and business acumen. Due to society’s reliance on technology, Richard Liu currently focuses his growth strategy on the Internet of Things. He is actively implementing Artificial Intelligence in his operations with great success.
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Richard Liu Qiangdong is the founder of JD.com and acts as the Chairman and CEO of the firm. Born in a small village in the Jiangsu province in China, he grew up without most standard commodities like running water and electricity. Although his parents descended from wealthy merchants, Liu came into the world when they…