The largest condom manufacturer in the world, the company Karex in Malaysia, had to resolve to convert in part into a manufacturer of latex gloves, because it might not sell its condoms.
The head of the company, which produces 5.5 billion condoms annually – regarding 20% of world production – and supplies the Durex brand in particular, admitted earlier this month, in an interview with Nikkei Asia, a drop of 40% of its sales.
Goh Miah Kiat, who had yet predicted a large increase in its sales at the start of the pandemic, is finally struggling to sell its products.
According to the president and CEO of Karex, hotel stays disrupted by the pandemic have played a significant role in this sales slump, especially in developing countries where hotels allow lovers to find a little bit of privacy.
Disruptions in prevention clinics have also hurt Karex’s business. “For example, in the United Kingdom, the National Health Service has closed non-essential clinics due to COVID, including prevention clinics that distribute condoms”, illustrated Goh Miah Kia, stressing that governments are normally d ‘important customers.
The manager expects sales to pick up in 2022. In the meantime, Karex is also counting on the commissioning of new latex glove production lines to rebuild financial health, following having deplored its first financial losses during the last year since its IPO, in 2013.