The State Department Store has a rich history dating back to 1924 when it was founded with the assistance of Soviet experts. The “Central Store” began with just ten employees, including a manager, trainer, senior accountant, account trainer, billing accountant, account apprentice, and merchandise processing specialist.
In 1933, the store moved to its current location, the former Zanabazar Museum of Fine Arts premises. The building was constructed in 1905 by the Russian merchant Gudwinzel and was initially used as a shop. It was a bustling and crowded area in the center of the Circle at the time.
The locals were amazed by the European-style two-story house with many windows, and merchants used to enter with their camels and goods through the big door. The “Central Store” played an integral role in the development of trade in Mongolia.
In 1961, the store relocated to its present building and was renamed the “State Department Store.” However, in 1999, the government made the decision to privatize the store, with the majority of shares being bought by the “Nomin Holding” Company. Today, the State Department Store remains fully privatized.
Since its privatization, the department store has undergone significant management reforms and expansion, and now over 600 employees are dedicated to running its daily operations with utmost efficiency.
