CEO and Founder of JD.com Richard Liu gives detailed insight into how he achieved massive success. As a guest speaker on the world economic forum in Davos, in an interview entitled “An Insight, An Idea”, he explained in detail about his background, education, struggle to improve his life, and the companies he started over the years which both succeeded and failed.

Examples of some of the struggles he experienced include the SARS epidemic that hit China and how it affected his business. When the epidemic was at its peak, Richard Liu began to close his physical stores and began to sell things online starting in 2004. This experience led to him taking his business online.

Currently, with 167,000 employees, the company added 30000 employees in the last year. The company strategizes to attain the highest market value within a few years. It also promises to deliver products in China using 500 logistics centers in 6 hours. Some remote areas take 20 hours for delivery while Beijing uses a 3-3-1 system where delivery is made within the day or the following morning. Delivery to international destinations can take from 10-15 days. Get Additional Information Here.

Richard Liu Qiangdong emphasizes that cost and efficiency are critical points that must be focused on to continue achieving success in a very competitive industry. He also stresses the need to play different leadership roles in life that set examples for those who work for him. Richard Liu has a tremendous success story as becoming one of the biggest Internet retailers in the world.

When Richard Liu first started, he had several business failures in the restaurant industry. Later on, he spent a period selling health products, then later sold computer parts while living in Beijing. In 2004, Richard Liu Qiangdong decided to switch his business to an online e-commerce venture has since become an Internet celebrity in China.

JD.com is now one of China’s largest e-commerce platforms and is led by Richard Liu Qiangdong as its founder and CEO. The company’s value is estimated to be worth over $57 billion. According to Forbes magazine, Richard Liu’s reported net worth is $11 billion. His name is synonymous with other great Internet giants in China like Alibaba-founder Jack Ma.

 

More on: https://chemistry-buchwald.mit.edu/people/richard-liu