Before the construction of the fish market, fish was traditionally sold in the open air on the main town square (Pjaca) every day from 07:00 to 10:00. With the development of health tourism in the late 19th century, Mali Lošinj was modernised and the municipal authorities decided to build a large stone building on the site of an old olive mill owned by the Vidulić family. The fish market was officially opened on 1 August 1895, and the freshness of the fish was guaranteed by rigorous sanitary inspections.