Russian discount chain Fix Price closes its three Mongolian stores and leaves the market

Fix Price, Russia's largest discount store chain, has closed all of its stores in Mongolia and fully left the market, Russian newspaper Vedomosti reported, citing the company's third-quarter 2026 financial report. Ikon.mn and Zogii.mn carried the news in Mongolia.

Three stores closed

Fix Price closed all three of its Mongolian stores by the end of September. The company has not officially explained why it left. Industry experts told Vedomosti that the small size of the Mongolian market and difficult logistics may have made it hard for the chain to run a sustainable business there.

Fix Price entered Mongolia in January 2023 under a franchise model, opening two stores in Ulaanbaatar. Goods were trucked across the border from the company's distribution centre in Novosibirsk. The chain grew to four stores by late 2025 before cutting back.

Changes in other markets

Besides Mongolia, Fix Price reduced its franchise stores in Kyrgyzstan from six to four and in the United Arab Emirates from four to three. It increased its stores in Uzbekistan from 25 to 30 and opened 10 new stores in Serbia during the quarter.

Founded in 2007, Fix Price now operates 8,219 stores in 10 countries, with Belarus (411 stores) and Kazakhstan (408 stores) its largest foreign markets. The company listed its shares in London in 2021 and moved its registration from Cyprus to Kazakhstan in 2023.