The World Economic Forum Annual Meeting held at Davos-Klosters, Switzerland, where Richard Liu’s video interview titled, An Insight, An Idea with Richard Liu, the source of this article. The annual meeting is where invited global leaders from international organizations gather to transparently discuss priorities and agendas via the largest media broadcast.
Richard Liu Qiangdong commonly referred to as Richard Liu, Founder, CEO, and Chairman of JD.com, one of China’s leading e-commerce platform. The thirty minutes video interview asked Mr. Richard Liu about how JD.com started, about himself, and where he sees his company in the future.
How JD.com Started
JD.com started from a humble beginning selling computer accessories in 1998 that grew to twelve stores. When the SARS epidemic hit China in 2002, he provided food, water, and had his employees rest at home and closed all twelve stores. Richard Liu and his managers brainstormed on how to stay afloat during the SARS crisis which resulted in selling online.
Selling online was cost-effective and became more apparent as the wave of the e-commerce future. Many counterfeit products and cheating on prices were common at that time. Richard Liu wanted to change the rules to provide the best customer service by not selling any counterfeit products, proper invoices, and talking to customers. In 2004, they closed all twelve physical stores and continued to sell online.
About Richard Liu Qiangdong
Mr. Richard Liu is a family man first and foremost. His company started out of the need to provide medical care for his grandmother, who raised him. He is married with two children and wishes for his children to not just inherit his wealth, but for them to know who they are as a person first and to go after what they want to do in life.
The Future Of JD.com
Richard Liu said, he is his biggest competitor, but perhaps if he had to name a company, it would be Walmart. The video interview continued, when asked about JD.com’s current market value, Richard Liu mentioned as of the previous night, January 23, 2018, JD.com was worth approximately $60 billion. He wants to take JD.com to become the number one e-commerce platform worldwide.
Visit his LinkedIn : https://www.linkedin.com/in/richard-liu-54849942/