In an appearance at the World Economic Formal Annual Meeting, Richard Liu sat before an audience for an interview. Talking about his early days in college and his business-oriented mind, Richard Liu talked about opening a restaurant right out of college and running it for several years until the business folded. He stated the failure taught him vital lessons about business and consumerism. This would help him in his next and current business as it has evolved. In 1998, Liu started JingDong. It began as a few store front shops for selling electronics and electronics accessories.
In 2004, the SARS epidemic hit China. Liu, fearing for the safety of his employees, closed the stores initially. This is when the idea struck him to move the business online; thus spurring the massive growth JingDong experienced. Liu discussed the downsides to selling online, such as counterfeit merchandise and cheating customers with high prices. Liu wanted to create a better customer experience.
This customer oriented initiative spawned JD’s innovation in customer service, selling and shipping. JingDong current has a market value somewhere near 60 billion dollars. With 500 logistic centers, autonomous delivery robots and drones, JD can guarantee delivery times in as little as 6 hours with precision.
On discussing his success, Liu joked that many of the friends that he had before becoming successful were now wealthy; hinting at his generous spirit. He’s always been surrounded by hard-working, intelligent people. Liu talked about his daily routines as a measure to keep himself in groove of success. JingDong is often compared to WalMart and Amazon. Find Related Information Here.
Liu talked about how JD’s products are of better quality than that of WalMart’s and how JD’s selection is more vast. The competitive spirit lives within Liu as he discussed Amazon. Richard Liu stated that he doesn’t believe it will be too long before JD becomes more successful than Amazon on a global scale and with their rapidly evolving innovation in customer and technology driven services, it’s not hard to imagine.
Today, JD.com stands at about $60 billion whereas his personal net worth is about 12.7 billion. And in 2017, Richard Liu became a “Variety500 Honoree” as a result of his persistence, innovation, and hard work. During his free time, the billionaire loves to either spend time with his family or volunteering at Red Cross.
Source article: https://jdcorporateblog.com/about-richard-liu-jd-com-founder/