Richard Liu And JD.com
JD.com, founded by Richard Liu Qiangdong in 2004, is the biggest e-commerce company in China and among the leading online retail stores in the world. Since its founding, Liu has been the CEO and president of the company and led it to immense success due to his futuristic leadership skills. However, he had to learn and fail a couple of times in the past before he could get the management skill right.
Liu Qiangdong decided to teach himself computer programming while pursuing sociology at Renmin University. During his studies, he decided to open a restaurant business that failed due to a lack of management knowledge. It is for this reason that he joined China Europe International Business School to pursue an EMBA.
At the onset of his career, Richard Liu sold health products. However, he did not take long in this job before venturing on his own to start his business, Jingdong, which focused on the sales of magneto-optical products. The industry enjoyed an early success since, unlike his competition, he was dedicated to providing his clients with high-quality products.
The company, which started as one store, grew to 12 stores within five years. However, the company was forced to switch to an online company in 2004 after China was hit by the SARS epidemic in 2003, affecting all brick and motor stores.
Qiangdong realized exceptional returns and from then on never looked back. The company has had several achievements during its operations. In 2011, he received an award for China Economic Person of the Year. In the same year and commencing year, 2012, ha again got an award for Chinese Business Man.
In 2014, JD.com got listed on NASDAQ due to the market share it had achieved that year of 54.3 percent. Later in 2016, it was made to the fortune 500 companies list and was the first one in all of China to achieve such recognition. Refer to this article for additional information.
More about Liu Qiangdong on https://medium.com/@liuqiangdong