The Success And Achievements Of Richard Liu In China’s E-commerce Sector
China is one of the first growing countries in terms of economic success. Its success can be attributed to the country’s top personalities, executive officer, entrepreneurs, and businesspeople. The company is on the same level as Amazon in terms of economic and financial success. Thanks to Richard Liu Qiangdong for his significant contribution towards growth in the company.
In 1998, Liu Qiangdong came up with a business idea. He co-founded the Kingdom company that majored in the selling of magnetic products. The firm began with only a single store. Because of its success, it managed to rise to higher ranks faster, and in a period of 5 years, it managed to have 11 more stores. This is a significant improvement attributed to the firm’s management team, employees, investors, shareholders, and customers.
Years later, Richard Liu decided to create more branches. Liu Qiangdong located them in Shenyang, Beijing, and Shanghai. Through this, profit was increased, and productivity within the company maximized. The firm recorded an increase in net worth. It would make a 9-million-dollar revenue on an annual basis. This has helped expand it and its rank in China’s and the world’s competitive business world. Hence, the company continued to record top results in the business world and hence decided to diversify into e-commerce in 2004.
Richard decided to venture into e-commerce because of the SARS outbreak. Online buying and delivery of goods would help combat the further spread of the SARS disease. The firm’s productivity has risen a notch higher, being ranked as one of China’s best firms.
Liu was featured as an Honoree in Variety 500 entitled, “JD.com Richard Liu; Founder / Chairman / CEO”, 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.
JD.com deals with selling a variety of products from food products, electronics, cosmetics, and apparel, to name a few. The customer orders for the products online, and it’s brought to him. They also sell their products at an affordable price.
Liu will forever be recognized for his positive impact on China’s economic growth. His success in the e-commerce sector led to him being awarded the China Economic Person of the Year. Go here for more information about Liu Qiangdong.
For more information about Richard Liu, visit his page on http://richardliuofficial.com/