It takes an entrepreneurial spirit and unique international outlook to bring a business that started just a couple years after socialism ended, into the 21st century. Yet young businessman Battushig Batbold is working hard to do that as Chairman of Altai Holdings in Mongolia. Founded in 1992 by his father, Sukhbaatar Batbold who served as Mongolia’s 26th Prime Minister, Altai Holdings has evolved into one of the largest and most diverse companies in the country. What propelled the business to new heights and to emerge as a leader in Mongolian business—while attracting foreign investment—is its emphasis on modern operating principles and progressive tactics.
With subsidiaries in many sectors, from media and telecommunications, to hospitality and fashion, Altai Holdings really tries to do it all. Since its inception the company has been known for its innovation, with most of the businesses being new to Mongolia. For example, it was the first privately-owned trader of Mongolia’s cashmere on the foreign market, and most recently it opened Emart Mongolia—the country’s first hypermarket franchise with South Korean partnership. Another aspect of the company that shows its move into the future, is the important role women play in the business—making up 51% of total employees.
With women holding many CEO and high-level executive positions, and constantly moving up, it’s clear that the company and its chairmen, including Battushig, value gender equality. Furthermore, the structure and modern principles of the company work to promote this same forward-thinking nature outside of the organization. As a key player in the country’s business sector, Altai Holdings acts as a trendsetter, contributing to Mongolia’s move towards global markets.
The business is run on four key values, which Battushig explains are “integrity, innovation, creativity, and community.” Much of what he learned while studying business at Harvard and later working in New York at Morgan Stanley, the young leader applies to Altai Holdings. Battushig is constantly striving to improve the company and bring in international investors and standards, while continuously expanding its ventures.
By supporting philanthropic community initiates and actively participating in the local Olympic movement through sponsorships, Altai Holdings finds itself as not only a leader in Mongolia’s market, but forging its way into the competitive international business space by constantly evolving and thinking outside the box.