Richard Liu Qiangdong has shown that it is possible to use your time wisely and to make a return on your investments. Richard Liu Qiangdong has been able to take JD.com, a company that he started in 1998 to greater heights over the course of these two decades. Richard Liu Qiangdong and JD.com show that with proper investment and the right incentives as well as team members, one can grow quickly.
From what started as a simple retail business that was exclusively offline to what is now a billion dollar company, Richard Liu Qiangdong and JD.com have come quite a long ways.
Let’s take a look at their history and see how they have progressed.
JD.com Recent History
Richard Liu Qiangdong and JD.com saw some major events in the past few years. Over the course of the past few years, they’ve seen investments from powerhouses such as Walmart and JD.com has made investments in smaller startups and companies to bolster its brand and strength in the marketplace. JD.com and Richard Liu Qiangdong have also seen some other activity within the marketplace as well.
2016 and 2017
Walmart increased its stake in JD.com from 5.9% to 10.9%. in 2016. A year later, Walmart would increase its holdings in JD.com 1%. That year would also see JD.com and their investment in Farfetch, a luxury brand. Richard Liu Qiangdong and JD.com would benefit from a luxury marketplace provider such as Farfetch as they would have exposure to the luxury market in a very deep fashion. JD.com invested more $300 million into the company.
A few months later, JD.com would partner with Walmart on a shopping festival. Within that same year, JD.com would help to improve China’s infrastructure. JD.com would do so by investing in China and their parcel delivery system. JD.com invested $101 million to make the lives of merchants of JD.com easier. JD.com would allocate the money to help merchants with their storage and distribution expenses.
JD.com in 2018
The company saw an increase in sales for their Singles Day because of their investments. They set a record for this Singles Day event by netting $19.1 billion within that one day.
Learn More: ieeexplore.ieee.org/document/6305161/metrics#metrics
How Richard Liu Qiangdong Got His Start
Richard Liu Qiangdong is the founder of JD.com. This is a company that sells products online. This company has turned Liu Qiangdong into one of the richest men in China. Liu Qiangdong had a humble upbringing. When it was time for him to decide on a career, he thought that it would be best to work in sociology. Liu Qiangdong found that he was not going to be able to have a fulfilling career in sociology, so he decided to diversify his talents.
He wanted to try his hand at restaurant ownership, so he opened up his own restaurant. Things did not turn out as Liu Qiangdong would have hoped; the company failed within a few months. After going into debt because of the restaurant, Liu Qiangdong started working in management for a Japanese company.
After working at the company for a number of years, he started up his own company selling optical devices. This endeavor was successful, and soon Liu Qiangdong was able to open up stores throughout China. In 2003, there was a bad outbreak of SARS in China; this forced Liu Qiangdong to reevaluate his sales model.
What Richard Liu Qiangdong Told Weforum
Recently, weforum.com did an interview with Liu Qiangdong entitled “An Insight, An Idea With Richard Liu”. He talked about the strategy that he used to make his company grow. After Liu Qiangdong realized that he would lose clients and employees because of the SARS outbreak, he decided that he would sell all of his products through an e-commerce platform. That was the idea that helped him to create JD.com. Now JD.com has made him a billionaire. View Related Info Here.
More on Liu Qiangdong and JD.com
Liu Qiangdong did not settle for failure, he persevered until he found success. Liu continues to strive for greatness through his commitment to his company and his clients. Liu Qiangdong wants JD.com to be the largest e-commerce company in the world, and with his work ethic and business model, he is sure to find success.
Related Article: https://www.aacsb.edu/about/advocacy-and-awareness/member-challenges/influential-leaders/recipients/richard-qiangdong-liu