What Nomin Holding does

Nomin Holding is Mongolia's largest privately held diversified conglomerate, founded in 1992 and headquartered in Ulaanbaatar. It operates 60+ wholly-owned subsidiaries across six business segments — Banking and Finance, Retail and Services, Import/Export Distribution, Aviation/Automotive/Logistics, Information Technology, and Real Estate/Construction — serving Mongolian mass-market consumers and a national B2B supplier network of 11,000+ partners. The group employs 6,000–6,300 people, accounts for approximately 6% of Mongolia's labor market, and contributes 0.5% of the country's total domestic tax revenue (₮120+ billion paid in 2024).

Its core retail platform spans 62 physical branches across 18 of Mongolia's 21 provinces (department stores, hypermarkets, supermarkets, warehouse stores, and discount outlets), supported by a SAP S/4HANA enterprise system, a proprietary e-commerce platform (nomin.mn) serving 150,000+ customers with 100,000+ SKUs, and the Loyalty 2.0 program with 600,000+ Nomin Bonus Card users and the cross-industry U-Point consolidated rewards network. Private-label brands (MONEL home appliances, ENJOY electronics, Queenly household, ZA meat, Wonderer vehicles) are manufactured and distributed in-house, while Eco Standard Laboratory (ISO/IEC 17025:2017) handles product quality assurance.

Revenue is generated through six diversified streams: in-store and online retail transactions, banking and insurance services (Arig Bank, NOMIN Insurance), import/export distribution, real estate management of 240,000+ m² across 21 provinces, aviation sales and operations (Bell and Robinson helicopter distribution, Chingis Airlines Unity domestic flights with ATR 72-600), and information technology services including card-center operations. Pricing is transactional at retail, with tiered loyalty cashback of 3–10% and fixed-denomination gift cards; supplier financing is delivered via Arig Bank unsecured loans up to ₮5 billion. Combined assets and revenues exceed USD 400 million as of 2025.

Name

Nomin Holding

Legal name

НОМИН Холдинг ХХК

Website

https://nomin.co

Company type

Private

Founded year

1992

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Nomin Holding is Mongolia's largest privately held conglomerate, operating 60+ subsidiaries across retail, banking, import/export, real estate, IT, and aviation, serving mass-market consumers and 11,000+ B2B suppliers through 62 branches nationwide.

Ownership category

akta.pro rank

Headquarters

HQ city

Ulaanbaatar

HQ country

Mongolia

HQ region

Asia

Offices2 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Supply Chain, Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. Retail Sales (Sales & Services): Core revenue from retail operations including department stores, hypermarkets, supermarkets, warehouse stores, and Save & Sale outlets. Operates 62 branches nationwide. Revenue from consumer goods sales across food, electronics, fashion, cosmetics, home goods, and more.
2. Banking & Financial Services: Revenue from financial subsidiaries: Arig Bank, NOMIN Union, NOMIN Unity, NOMIN Insurance, and NOMIN United (non-bank financial services).
3. Import, Export & Distribution: Import and distribution of electronics (NOMIN Electronics), international foods, fashion, home goods, cosmetics, and processed foods (NOMIN Foods). Own brands include MONEL (home appliances), ENJOY (electronics), Queenly (household), and ZA (meat products).
4. Real Estate & Construction: Revenue from real estate management, property leasing, construction services, and property development through subsidiaries including NOMIN Realtor, Silk Road, NOMIN Maintenance, Silver Tower, Golden Properties, NOMIN Rent, and Smart Energy.
5. Aviation, Automotive & Logistics: Revenue from NOMIN Motors (motorcycles, snowmobiles), NOMIN Lift (elevators), NOMIN Gas, NOMIN Logistic, NOMIN Standard, and aviation ventures including Chingis Airlines Unity, Dragon Fly Heli, and Fly Adventure. Helicopter distribution partnerships with Bell (Textron) and Robinson.
6. Information Technology: E-commerce platform revenue, Card Center operations (loyalty management), and technology services.

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels5 records

Core offering

Nomin Holding is a Mongolian diversified conglomerate that operates a nationwide retail chain of 62 branches (department stores, hypermarkets, supermarkets, warehouse stores, and discount outlets) selling consumer goods across food, electronics, fashion, cosmetics, and home categories, complemented by import/export distribution, banking and insurance, real estate, and aviation/automotive/logistics services. Its proprietary technology stack includes the nomin.mn e-commerce platform, the Loyalty 2.0 system (600,000+ Bonus Card users), private-label brands (MONEL, ENJOY, Queenly, ZA, Wonderer), and an in-house ISO-accredited Eco Standard Laboratory for product quality assurance.

Product overview

Nomin Holding is a diversified Mongolian conglomerate operating across six major business segments: Retail & Services, Import/Export Distribution, Banking & Finance, Aviation/Automotive & Logistics, Information Technology, and Real Estate & Construction. The company operates over 60 subsidiary companies with a network of 62 retail branches. Its technology offerings include an E-Commerce platform (nomin.mn) serving 150,000+ customers with 100,000+ products, and a Card Center managing Mongolia's first loyalty program (Nomin Bonus Card) with 600,000+ users. Nomin Holding has developed private label brands including MONEL (home appliances), ENJOY (electronics), Queenly (household goods), Wonderer (vehicles), and ZA (meat products), distributed through its nationwide retail network and regional hubs.

Differentiator

Problem solved

Functional benefit

Brands

• MONEL: Mongolia's first national brand for domestic home appliance manufacturing. Established in 2001, produces over 560 types of electrical products focused on energy efficiency, environmental sustainability, and low-noise performance.
• ENJOY
• Wonderer
• Queenly
• ZA
• Nomin Bonus Card
• U-Point

Products and services

• NOMIN Retail Branch Network Network of 62 retail branches across Mongolia (department stores, hypermarkets, supermarkets, warehouse stores, discount outlets) selling consumer goods across food, electronics, fashion, cosmetics, and home categories to individual consumers.
• NOMIN E-Commerce Platform (nomin.mn)

Quantifiable outcome

• 6,300+ jobs created, contributing 6% of Mongolia's labor market
• +5 more outcomes

Named customers4 records

Segments4 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Six partnerships are on record, tiered core, flagship and minor.

• Mongolian National University (МУИС)coreStrategic or Co-development Partner · 19 August 2025Nomin Holding and the National University of Mongolia signed a 3-year memorandum of cooperation on August 19, 2025. The partnership covers student talent development, work-integrated learning programs, joint research, financial and procurement cooperation, and future employment pipeline for Nomin's subsidiaries. Signing attended by Nomin HR Director B.Oyunbolor and NUMS Vice Rector B.Davaasuren.
• Arig BankcoreStrategic or Co-development Partner · 24 March 2025Arig Bank partnered with Nomin Holding to offer unsecured loans for product procurement to Nomin's supplier network. The 'Unsecured Loan for Product Procurement' product offers up to ₮5 billion, with 12-24 month terms and 2-5 day decision time. Nomin Tuv Trade signed the cooperation agreement on March 24, 2025, enabling suppliers to finance working capital through inventory-backed loans.
• Bell (Textron Inc.)flagshipTechnology or Integration · 1 January 2025In 2025, Nomin Holding partnered with Bell, a wholly owned subsidiary of Textron Inc. (headquartered in Fort Worth, Texas), entering Mongolia's aviation sector. Nomin is the first company worldwide to receive authorized distributorship rights for both civilian and military versions of Bell helicopters, including the Bell 505 single-engine helicopter with over 500 units produced globally.
• Robinson Helicopter CompanycoreTechnology or Integration · 1 January 2025Fly Adventure LLC (subsidiary of Nomin Holding) launched official exclusive operations in 2025 for the sale and maintenance of the R44 Raven II helicopter. Robinson, headquartered in Torrance, California, has designed and manufactured helicopters since 1973, producing over 1,000 helicopters annually. The R44 will be introduced to Mongolia for the first time by end of 2025.
• Shambala 2056 (Art'N Tech Land Art)coreStrategic or Co-development Partner · 1 January 2025NOMIN Insurance (subsidiary of Nomin Holding) partnered with Shambala 2056 for the second consecutive year as Art'N Tech Land Art sponsor. The project aims to combat desertification through afforestation. NOMIN Insurance insured 57,857 trees in 2024 and 157,857 trees in 2025, launching the 'Insured Tree' campaign. In 2024, this partnership removed 191,668 kg of CO2 and produced 313,940 kg of oxygen.
• Дэлхийн Зөн Монгол (World Vision Mongolia)minorStrategic or Co-development Partner · 1 January 2024Nomin Holding partnered with World Vision Mongolia on the 'Гэрэл түгээе' (Share the Light) campaign for the second consecutive year. The initiative provides specialized funding for the development and protection of 100 children, including children's clubs, parent empowerment training, and essential support over a 2-year period.

Scale indicators15 records

Recent moves9 records

Expansion highlights6 records

Direct peers

• SM Investments Corporation: Philippines' largest diversified conglomerate with interests in retail (SM Retail, SM Supermalls), banking (BPI), and real estate. Closely comparable to Nomin in being a multi-vertical conglomerate that combines mass-market retail, financial services, and property under one corporate roof in an emerging Asian market.
• Ayala Corporation: Philippine holding company with real estate (Ayala Land), banking (BPI), telecommunications (Globe), and retail holdings. Comparable to Nomin in operating a diversified conglomerate that combines real estate, financial services, and consumer-facing businesses anchored by a strong national brand.
• City Group: Bangladeshi conglomerate with FMCG manufacturing, retail (Meena Bazar supermarkets), real estate, and consumer brands. Comparable to Nomin as a frontier-market conglomerate integrating distribution, branded consumer goods, and retail.
• Falabella: Chilean retail conglomerate combining department stores, home improvement (Sodimac), and banking (CMR, Banco Falabella). Mirrors Nomin's department-store heritage combined with private-label brands and consumer credit/loyalty integration.
• Cencosud: Chilean retail conglomerate operating supermarkets, department stores, home improvement, and financial services across Latin America. Closely matches Nomin's mix of department stores, hypermarkets, and supermarkets combined with banking-adjacent services.
• San Miguel Corporation: Diversified Philippine conglomerate spanning food and beverage, packaging, fuels, power, and infrastructure. Comparable to Nomin's conglomerate structure of 60+ subsidiaries across unrelated industries and its strong domestic brand and state-aligned positioning.

Broad incumbents

• Metro AG: German-headquartered cash & carry and delivery wholesale operator running Makro and METRO stores globally. Comparable to Nomin's NOMIN Makro and B2B supplier network (11,000+ suppliers, 350,000+ SKUs) at a much larger global scale.
• Migros Türkiye: Turkish hypermarket and supermarket chain with extensive private-label offerings. Comparable to Nomin's NOMIN Hypermarket and Supermarket formats combined with MONEL/ENJOY/Queenly private-label brands.
• BIM Stores: Turkey's largest hard discount retailer chain with thousands of stores. Comparable to Nomin's Save & Sale outlet format and value-led retail proposition in an emerging market, though at substantially larger scale.
• Magnit: Russia's largest food retailer by revenue, operating convenience, proximity, and large-format stores. Comparable to Nomin's multi-format retail chain (hypermarkets, supermarkets, discount outlets) at much larger scale and in a similar frontier/emerging market context.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

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Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Subsidiaries40 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Nomin Holding