Few companies in China have reached the amazing level of success that JD.com has reached. In fact, JD.com is considered to be one of the largest retailers in the Chinese market. They are worth upwards of $50 billion and headed up by entrepreneur Richard Liu Qiangdong. Recently Richard Liu sat down with an interviewer from Weforum.org. They wanted to discuss how he achieved such tremendous success. One of the first things that many of you want to understand are the foundations of JD.com. According to the interview, JD.com was originally named Jingdong Mall. The purpose of this business was to provide customers with tech products. They were physically located and not yet online. Richard Liu tells us interviewer that they had no more than a dozen stores at a time. Refer to This Article for more information.
The stores were very prosperous but in 2003 there was a threat to their financial security. The SARS virus was running rampant through the Chinese population and a lot of people were hesitant to go out and buy products. Alternatively, Liu Quiangdong did not want to subject his employees to the virus. He decided to move the operation to an online business. 2004 was the launch of JD.com. Originally, JD.com continue to sell the items that Jingdong Mall did. Richard Liu tells his interviewer that he decided very quickly into the process that he wanted to offer more items. This was something that he had to do very slowly. Liu was very discerning about the materials that were offered to the online community and he wanted the time to make good decisions. It took over six years to make the transition but now JD.com offers a wide variety of items.
One of the most exciting things to him is the future prospects of JD.com. Richard Liu Quiangdong is excited about the international business. He believes that JD.com has a lot to offer to the global community. Their discerning taste when it comes to top materials will breathe new life into the online retail market. One of his biggest competitors is said to be Amazon.com. Richard Liu has voiced that he will be interested to see where the road takes him.