Richard Liu Qiangdong is the founder, chief executive officer, and chairman of an e-commerce company called JD.com. This online retailer is the largest and the most successful e-commerce business in China to date. Before Richard Liu Qiangdong started his e-commerce business JD.com he had two other business ventures. He tried opening up a restaurant and he also tried to open up a business that sold health products unfortunately both these business were unsuccessful. Then in 1998 Richard Liu opened up a small retail business in Beijing that sold computer parts. The computer parts store what’s called JingDong and it became very successful that he was able to open up multiple locations. Unfortunately disaster struck in the form of a SARS outbreak and this outbreak affected Richard Liu Qiangdong brick-and-mortar stores tremendously.
This is when in 2004 he decided to switch is computer parts store from a brick and mortar to an e-commerce. Once Richard Liu Qiangdong got his e-commerce business up and running each year after the business just became more and more successful. JD.com still sells the highest quality of electronic goods but the company has also branched out into selling luxury brands and food as well. In 2016 JD.com was reported to have netted 37 billion in sales. Robert Liu is one of the most well-known names in China and globally when it comes to being an extremely successful Chinese businessman. Some of the traits that got him where he is today is hard work, creativity, innovation, and an aggressive personality.
Richard Liu Qiangdong has a unique way on how he thought of the name for his business which is JD.com. He actually stated the name came from the initials of he and his first girlfriend. He was dating her when he initially started JD.com so Jing is his first name and Dong is her last name. They combined the JingDong then they shorten it and the name JD.com was created. Richard Liu Qiangdong did experience his own trials and tribulations when he became an entrepreneur. He started out with two businesses failing. Then when his brick and mortar was succeeding he had another spell of bad luck that drove him to the e-commerce sector. Once he got into the e-commerce sector and JD.com was born he looked back.