For many entrepreneurs, Richard Liu is a model to follow in the retail industry. His preparation and adaptability made him become one of the largest e-commerce stores in China. You might be wondering about the process this self-made billionaire went through.
Richard Liu and his career
A part of Richard Liu’s success comes from education. He graduated in Sociology in 1996, studied Business, and worked on coding in his spare time.
In 1998, the Chinese businessman creates his first retail store. 360Buy was a company focused on magneto-optical products. It wouldn’t take long until the market changed, forcing an adaptation response.
How Richard Liu Really Became Great
After the SARS outbreak, Richard Liu considered restructuring the business. In the following years, he would close 360Buy stores while working on new project, Jingdong.
By 2005, Richard Liu concentrates on Jingdong completely. The project consisted of a general online store. Customers would find almost everything they could need.
In a matter of years, Jingdong expanded aggressively in the Chinese market. In 2014, Richard renamed the company to JD.com and started selling shares to the public.
The current development of JD.com
By the time we write this, the company already has more than 220 million active users and 150,000 employees! The activity of multiple investors also demonstrated the valuable asset that this tech giant has become.
Today, JD.com the leading e-commerce company in the country. Clients come to shop in this site ranging from all possible categories.
When referring to the Chinese retail industry, not even Amazon can compete with JD.com. What has Richard Liu found that makes it so unique?
The answer may be listening to his story. If Richard has already revolutionized the tech industry, what makes us think it cannot happen again?
To know more visit @: www.crunchbase.com/person/richard-liu-e9b4