In 1988, Enkhtuul, co-founder and CEO of Khos Az LLC, started to work at the state shoe factory as a technician and where she met her future husband and cofounder of Khos Az. However in 1998, during the midst of public property privatization, the State shoe factory was privatized and eventually shut down. “We tried to maintain and continue the operations of the factory but it was sold to people who decided not to continue its operation” Enkhtuul said.
After becoming unemployed, Enkhtuul and her husband sold their 2 bedroom apartment to purchase a small studio as their first factory in Ulaanbaatar along with 4-5 old equipment to start their company. “Shoe making is much more complex than making bags. It requires a lot more equipment and skills to manufacture shoes. So we thought if we build a strong foundation in shoe making early enough, we should be well off in the future”, says Enkhtuul. The decision turned out to be a right one. Today the company is the leading shoes and safety boots manufacturer with capacity to produce 1200 shoes per day. It operates two shops with Khos-Az Children Brand shoes and employs over 80 highly skilled workers.
When we asked what would be the best advice she can give to entrepreneurs, her response was “Persistence”, without hesitation. “You have to believe in what you do and stay true to it”.
Bodhi Financial Advisory Services LLC assisted KHOS –AZ in the company’s preparation to become a supplier of safety boots to Oyu-Tolgoi, the largest copper and gold mining operations with Rio-Tinto.