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Richard Liu’s Impact On

Richard Liu Qiangdong had experienced his fair share of failure before starting, one of the biggest global e-commerce companies. Liu had started his restaurant business which failed during its inception. He then joined a health supplement company where he sold health products before venturing to start his own business.

In 1998, Richard Liu set out to start a retail business that dealt with magneto-product sales. Due to the authenticity of his products, Liu Qiangdong gained the trust and loyalty of his consumers. As such, he ended up expanding his one store to 12-chain stores within Beijing.

However, Liu was forced to close shop literally in 2003 in the wake of the SARS epidemic which struck his country. However, even with the setback, Liu looked for opportunities and decided to try out online sales. The online sales were a hit, which prompted Richard Liu to shift to exclusive online sales of his products and rebrand his company to in 2004.

Since the change, the company has been experiencing successful trends to date. In 2014, got listed to NASDAQ after obtaining a market share worth 54.3%. By 2016, the company had been revamped to be listed in the Fortune 500 Companies and be recognized as the first Chinese e-commerce company to achieve such recognition.

Richard Liu’s futuristic strategies made more than 220 million active users. The company had grown such that it had over 150,000 employees by the same year. The number of active users shot to 301.8 million by 2018.

Due to Richard’s impressive leadership in the company, Liu has received several achievements. In 2011, CCTV recognized Liu as the economic person in China. Liu again received recognition as a Chinese business leader during the same year. Richard received the same recognition the following year. Fortune has a list of some of the world’s greatest leaders, and Liu is on the 48th number on the list. See this page for additional information.

In 2017, Richard Liu Qiangdong became an official “Variety 500 Honoree” due to his hard work and service to the world.

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