The world’s largest condom maker, the Carex company in Malaysia, had to decide to become a manufacturer of rubber gloves, partly because it could not sell its condoms.
The head of the company, which produces 5.5 billion condoms a year – about 20% of world production – and specifically supplies the Durex brand, agreed in an interview with Nikkei Asia earlier this month that it would reduce its sales by 40%.
Goh Mia Kiat, which had already predicted a big increase in its sales at the beginning of the epidemic, is finally struggling to sell its products.
According to the president and CEO of CAREX, hotel stays disrupted by the pandemic have played a significant role in the decline in sales, especially in developing countries, allowing hoteliers to find some privacy.
Interruptions in prevention clinics have also hurt the cares business. “For example, in the United Kingdom, the National Health Service has closed down unwanted clinics due to COVID, including prevention clinics that distribute condoms,” Go Mia Kia said, stressing that governments are generally important customers.
The manager expects sales to rebound in 2022. Meanwhile, Karex also hopes to launch new latex glove production lines to rebuild its financial health after investigating its first financial losses last year after its IPO in 2013.