Richard Liu Qiangdong: The Growth Of A Retail Giant

 

The interview with Mr. Rubenstein and Richard Liu Qiangdong provides a lot of insight into the success of JD.com and its previous iteration Jingdong Mall. The video interview is featured on Weforum.org and is a great look at some of the work that Richard Liu has been doing with the company since it was first founded in 2004. Richard Liu is a savvy businessman but he was not always considered to be so. In fact, as a student, he failed to help a restaurant succeed. The reason for this was that he did not put in enough time with the restaurant. He tells his interview that he only had two hours a week to truly dedicate to that restaurant. It was a disaster, but he learned from it.

 

In 1998 he went on to found Jingdong Mall. Mr. Rubenstein asks him how he came up with the name Jingdong Mall. To this question, Richard Liu laughs and explains that it is part of a mashup for an old girlfriend. He eyes his current wife and laughs, exclaiming that he wishes she wasn’t here for that. Regardless of how I got started, Jingdong Mall was successful in its own right. It had expanded to 12 different locations. The reason that Richard Liu started to consider an online presence is that of the 2003 SARS epidemic. It was a time of uncertainty and Richard Liu wanted to protect his staff members. An online presence seems to be the answer.

 

JD.com immediately began to garner a loyal customer base. The reason for this was because they did not offer cheap, counterfeit products like their competitors. Richard Liu Quiangdong tells Mr. Rubenstein that he immediately noticed this trend in the online community. It was foreign to him and contained no sense of honor. He wanted JD.com to represent a new wave in retail management. This is one of the reasons why his customers have remained so loyal to the website. From the very beginning, they have proven that they are vested in their interests as well. The company has done so well in the Chinese market that Richard Liu even tells Mr. Rubenstein that they are looking into global expansion. Read This Article for more information.

 

View source: https://www.wealthx.com/dossier/qiangdong-liu/