Richard Liu recently sat down for an interview with David M. Rubenstein, entitled “An Insight, An Idea”, the well-known co-founder and co-executive chairman for The Carlyle Group, an international alternative asset management firm. The interview concerned nothing but Mr. Liu’s rise to success as an entrepreneur through the growth of JD.com, a major Chinese online retailer also known as Jingdong.
Let’s take a short recap of the interview between Richard Liu Qiangdong and David M. Rubenstein.
Jingdong is up to a lot in 2019
Recently, the United States’ Walmart upgrade its five-percent share in JD.com to 12 percent, making Walmart the company’s largest single investor. The pair of colossal retailers first struck an agreement in 2016.
Just over a year ago, JD.com poured slightly less than $400 million into Farfetch, an online fashion retailer with upwards of 2,000 designers’ selections to choose from. Find Related Information Here.
Jingdong also continues to operate JD Worldwide, a global e-commerce interface that brings international goods to shoppers based in China. The company also continues to have its stock traded on the NASDAQ Stock Exchange, one of the largest in the world. The public stock of Richard Liu’s company was initially posted in 2014.
Further, JD.com continues to be one of China’s greatest retailers, all thanks to the crystal-clear leadership of Richard Liu.
The initial stages of Jingdong
Richard Liu Qiangdong founded Jingdong in 1998 as a retail shop specializing in electronics. The small business was located in a busy shopping mall in Beijing, China, the capital of the country.
By 2003, Liu’s creation had grown into a 12-store operation. Soon after store number 12 opened, a severe acute respiratory syndrome outbreak ravaged the entirety of China. People didn’t come out to shop as much during the outbreak. Chinese people were also less likely to spend a fair chunk of money while they were out shopping.
The growth of JD.com, post-SARS outbreak
Richard Liu Qiangdong realized that opening up an e-commerce platform was the best move he could make for his fledgling company. In 2004, JD opened up that online shopping platform. It originally specialized in computers and related accessories.