Richard Liu Qiangdong – Focusing on Improving Efficiency of their Business Model

Richard Liu Qiangdong is a famous name in the e-commerce world of China and also in the world for success; he pushed JD.com to under his leadership. There are many e-commerce companies in the world that are trying their best to win the hearts of the customers and dominate the market, but not many have been able to achieve the kind of success that JD.com has achieved in just over a decade. Richard Liu Qiangdong’s futuristic and his visionary leadership is solely responsible for the success that JD.com has achieved and is one of the few self-made billionaires in the world. With the estimated net worth of over $7 billion, Forbes has listed Richard Liu Qiangdong as one of the wealthiest individuals in China today.

Richard Liu Qiangdong understands the business dynamics well, thanks to his EMBA degree from the China Europe International Business School. Richard Liu Qiangdong first started a small physical retail shop in Beijing in 1998 and in the next few years, he was able to scale the business to 12 stores across the country under the top luxury brand name Jingdong. In 2003, the business suffered massive losses due to the customers as well as employees inability to come to the stores. The losses were paving the way towards failure for the entire business, and it is during this time, Richard Liu had to switch the business operations to online retail completely.

Even though the market was dominated by Alibaba at the time, Richard Liu was able to make a niche for itself through brand identity and innovative business strategies that he implemented. Richard Liu is a man known to not give up easily, and even though he faced many challenges on the way, he continued to struggle to fuel his business enough to grow sustainably in an otherwise fiercely competitive e-commerce market. With their improved efficiency and business role model, they have managed to get the results they wanted in the recent quarter and hope to increase them in the future with key technology changes in their operations. The success has been possible because of the vision and the efforts of their CEO Richard Liu.