Richard Liu Qiangdong: From Failure To Success

One of China’s most successful entrepreneurs recently visited Dallas, Texas to talk about his journey to success. Richard Liu Qiangdong, CEO and founder of, always enjoys telling his story and hearing from others. Though he could retire in luxury, Richard Liu continues traveling and hearing from customers and fellow entrepreneurs.


In Dallas, through interpreters, Richard Liu opened the discussion by telling people how he came up with the name In short, it’s part of his first name and part of his wife’s last name combined. At the time, he didn’t know what else to call it.


Though the company was named relatively easily, his journey to success was anything but easy. In his youth, Richard Liu Qiangdong was interested in politics; so much so, he earned his first degree in sociology from Renmin University. After realizing a degree in sociology doesn’t come with many high-paying job opportunities, he began studying computer programming. Refer to This Article for additional information.


He went on to earn a second degree, an EMBA from the China Europe International Business School. With a computer programming degree, he took a job at Japan Life. Though Richard Liu had a lucrative career, he wanted to open his own business.


While working his way toward his EMBA, he worked as a freelance coder. With that money, he opened a restaurant while still attending college. The restaurant didn’t last long, as Richard Liu only dedicated two hours a week to running the establishment. Still, he needed to make more money, as his grandmother fell ill.

In 1998, he opened a little store that sold magneto-optical products. That company experienced success and expanded to a dozen stores. Unfortunately, all 12 stores were put out of business after the SARS outbreak claimed China. After losing another venture, Richard Liu Qiangdong turned to his online shop.


Richard Liu quickly learned the advantages of owning an online business. He compared data and saw that customers in China prefer dealing with online companies. He added more products, growing into a $60 billion brand.


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