Richard Liu is recognized for advances in online retail, both on a local and a global level. In 2014, his company, JD.com, expanded into Southeast Asia and now operates in 16 countries, including the Philippines, Thailand, Vietnam, Indonesia, Malaysia, Singapore, and Brunei. By 2016, with Richard Liu Qiangdong, the firm had a presence in the Chinese mainland, Hong Kong, Macau, Taiwan, Australia, the United States, Russia, Ukraine, New Zealand, the United Kingdom, and Croatia.
JD.com had roughly 2.55 million active customers in the last reported quarter, accounting for approximately 72% of China’s online retail space. With more than 650 million active users across the country, it’s only natural to wonder how this little company has been able to take on the likes of Alibaba (NYSE: BABA).
Despite the humble background and less than supportive parents, he and his wife—who he met in high school—were determined to pursue their dream of founding a business. Later, in 2001, Liu Qiangdong started selling computer parts and hardware out of his parents’ shared factory. Having amassed a network of suppliers, Liu came to Beijing’s new business district, where he established JD.com in his rented studio apartment.
After just two years of operation, Richard Liu was able to save enough money to purchase a modest industrial warehouse, and in 2005 launched an e-commerce business and shifted the business to operate from the warehouse. Today JD.com is the frontline of China’s largest retailer. The organization has had its fair share of ups and downs, but perhaps the biggest challenge that Liu has faced during his career has been losing his only son in a tragic car accident in 2015.
Grief-stricken, Qiangdong transformed the business into a platform for social responsibility that offers a platform for donation to people in need through various programs. He was awarded the 2015 World Economic Forum’s Crystal Award for Entrepreneurial Vision and a 2017 The Explainer Award for his commitment to innovation and social responsibility.
Richard Liu was born on June 25, 1971, to a manual laborer and housewife. At the age of 21, Liu had already worked for the foreign country’s biggest commercial bank as a finance manager. That year, JD.com, then known as 360buy, entered China’s market. Visit this page for related information about Richard Liu.
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