Joe Fagan

Former Soccer Star, Now Soccer Fan

March 27, 2019

Understanding how Richard Liu Qiangdong set up

Richard Liu is a notable businessperson in the world. He is the founder and the Chief Executive Officer of the largest retailer in China known as It is under the leadership of Mr. Liu that this business has moved from the bottom to the top. Currently, it is ranked as one of the top four latest businesses in China by market value. Richard Liu believes that will be the largest business in China and by extension, the largest in the world since China will be the largest economy. Currently, he is working on building this company so that it can rank us the top Chinese company.

In an interview at the World Economic Forum, Richard Liu gave out a lot of information about his life and business and how he has managed to build one of the most successful businesses of today.

Richard Liu started engaging in business activities when he was at the University. He built a restaurant business which unfortunately collapsed since he did not have sufficient time to manage it. However, this business taught him very important lessons about entrepreneurship. Today, this results he has recorded have been a result of the dedication that he has given his entrepreneurial endeavors.

Although he failed in his first attempt to create a business, he did not give up. In 1998 after completing his university, Richard Liu decided to give it another go. He set up a small store in Beijing to sell computer accessories. This business picked off to a great start since he had learned the basics of running a successful business. Immediately after completing his university-level education, Richard Liu worked with a health company known as Japan Life. It is in this business that he learned some of the most important lessons that he later used to run his own business.

In 2004, Richard Liu decided to create a new business that would run on the e-commerce platform. He was convinced of that an Internet-based company would perform better than a brick-and-mortar business. He closed down 12 stores that he had opened in Beijing and went into e-commerce fully. Between 2004 and 2010, Richard Liu managed to stock with almost every product that was on the Chinese market.

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