Richard Liu Qiangdong is a self-made businessman. Richard Liu ventured out in business way back in 2002 when he opened his first company. The company was named Jingdong and engaged in the sales magneto-optical products in Beijing. During its early years in operation, the business did exceedingly well, expanding into twelve more stores across Beijing. However, as fate would have it, the company received an irreparable blow, when the outbreak of the SARS epidemic grounded all the staff and clients. The company never recovered from the shock.
Richard Liu Qiangdong is a highly resilient entrepreneur. The collapse of his business did not deter him from his unrelenting desire to succeed in business. Instead, he went back to the drawing board and established an online platform to sell electrical and related products. By 2004, he did away with his physical shops and went completely online. The shift from the brick and mortar establishment marked the birth of JD.com.
Today JD.com is a leading online retailer in China. The company has also seen a tremendous increase in the number and range of products it avails to its customers, with more than ten product categories offered on its website. One of the product categories is computers, which has products like desktops, laptops, printers, office equipment, and many more related products. The platform also offers mobile forms and digital products, home appliances, automobiles and parts, luxury goods, cleaning products, shoes, bags, and many more items.
The incredible growth and expansion of JD.com is a testimony to Richard Liu Qiangdong’s entrepreneurship ability. This ability has caught the attention of world-renowned brands, who have invested significant amounts in the company. One such retailer is the leading American brand, Walmart. Although Walmart is a long-time shareholder, the retailer recently decided to increase its stake to 12%. Another critical partner is Farfetch. Recently, JD invested a total of $397 million in Farfetch in a mutually beneficial partnership. Click Here to learn more about Richard Liu.
Richard Liu has a great vision for the future of JD. In the just concluded World Economic Forum meeting held in Switzerland, Liu disclosed that the company is planning to its logistics business public. He also said that JD is considering dual listing, probably in mainland China or Hong Kong.