“An Insight, an Idea with Richard Liu” is a recent interview that was conducted by Webforum.org with businessman Richard Liu Qiangdong. Richard Liu is the innovative business professional behind the development of JD.com. JD.com was originally known as Jingdong Mall which was founded in 1998. Jokingly, the interviewer Mr. Rubenstein asks Richard Liu where the name came from. Richard Liu laughs back and explains that it is the result of a combination of his name and a former girlfriend. He smiles to his wife and says that he wishes he didn’t have to say that right in front of her.
Regardless of where the name came from, JD.com has been very lucrative for Richard Liu and his associates. Mr. Rubenstein wanted to know how Richard Liu assured that success and what was the catalyst for them getting involved in the online retail market. Richard Liu tells him that the reason they moved to an online setting is that of the SARS outbreak in 2004 that left the Chinese public crippled with fear. He did not want to subject his personnel to these risks. In order to keep his business afloat, he chose to move to an online method of business. Once there, he found that it was a great place to develop JD.com. He talked to e-commerce like a duck to water.
Mr. Rubenstein also asked some questions about how JD.com is different from other retailers. Richard Liu Quiangdong talks about how when he came into the market there were a lot of retailers that were peddling subpar products. Customers could never feel confident that they were receiving the products that they ordered. A lot of items were being counterfeited and represented as the true item. With his business, he decided that he wanted to offer a guarantee and only sell the best quality products. This is been instrumental in Liu’s success. He uses this discussion to segue into his desire to break into the international market. He believes that JD.com has a lot to offer the world and expresses a desire to move into that market. Only time will tell how successful they are able to be in the future. See Related Link to learn more.