Russian Discount Retailer Fix Price Fully Withdraws from Mongolia
Fix Price, Russia's largest value retailer, closed all three of its stores in Mongolia by the end of September. The company has not publicly explained the decision.
Fix Price, Russia's largest discount retail chain, has completely left the Mongolian market, with all three of its stores there closed by the end of September. The Russian newspaper Vedomosti reported the news on Monday, citing the company's financial results for the third quarter of 2026. Fix Price has not publicly given reasons for the withdrawal.
Industry analysts told the newspaper that Mongolia's small market and the country's logistical difficulties probably made it hard to sustain a viable business there.
Operations in Mongolia
Fix Price entered Mongolia in January 2023, opening two franchise stores in the capital, Ulaanbaatar. Goods for them were trucked across the border from a distribution center in Novosibirsk. By late 2025 the chain had briefly grown to four stores before scaling back.
Changes in other markets
During the quarter, the company cut its franchise stores in Kyrgyzstan from six to four, and in the United Arab Emirates from four to three. In Uzbekistan, by contrast, the number of stores rose from 25 to 30, and 10 new stores opened in Serbia over the three-month reporting period.
About the company
Fix Price was founded in 2007 and operates 8,219 stores in 10 countries. Its main foreign markets are Belarus, with 411 stores, and Kazakhstan, with 408. After its 2021 initial public offering on the London Stock Exchange, the company moved its corporate jurisdiction from Cyprus to Kazakhstan in 2023.
