The growth of JD.com starts way before the foundation of Jingdong Mall, it’s creator company. It starts with founder Richard Liu Qiangdong. Weforum wanted to discuss the growth of the company with him in a recent interview. The interview, entitled “An Insight, An Idea”, touches on some of the aspects of his life that he believes were instrumental in his eventual development of the company.
Richard Liu received a degree in sociology from the Renmin University of China. While a student, Richard Liu tried several business ventures but the one that is well-known is a restaurant that he attempted to run during that time. Richard Liu Qiangdong tells David Rubenstein was Weforum that this was one of his worst business ventures. He explains that as a student he did not dedicate the proper amount of time to the process and the restaurant ultimately failed.
He tried again in 1998 when he started an electronics business, he dubbed Jingdong Mall. The creation of this business was borne out of a need to redeem himself but also to support his family. He had a grandmother who had always been helpful and supportive, he wanted to pay her back for all her kindness throughout the year. The business did well and continued to flourish until 2004 when SARS became a major concern for the Chinese public. Go Here for related Information.
In 2005, JD.com when living as an online exclusive retail store for electronics. Eventually, the company grew to include other categories such as home, clothing, and cookware. These extended categories are one of the reasons why Richard Liu believes that JD.com has expanded the way that it has. The categories that they offer to their consumers provide them with the goods that they need to have a well-rounded shopping experience. Richard Liu gives the distinct impression that it has always been the goal JD.com to provide consumers with everything that they need in one trip.
After dominating the online Chinese retail scene, Liu is now looking towards a more global market. Richard Liu Qiangdong has been instrumental in the price for tired the expansion. He believes that JD.com will be ready to take on the larger international retail giants very soon. He warns them to look out for JD.com’s unique brand of service.
Related Reference: https://vivo.brown.edu/display/rl11