Covid drains the blood from condom-maker’s profits, leaving them flaccid
Karex thought lockdowns would see demand for its products grow, but this was not to be, so it’s turned to gloves
The world’s largest maker of condoms hasn’t been spared from the coronavirus pandemic. The use of its products slumped as much as 40% in the past two years.
Sexual activity using the contraceptive didn’t increase, even as people stayed home amid lockdowns to curb the spread of the virus, Nikkei Asia reported, citing Karex’s CEO, Goh Miah Kiat.
The closure of hotels and non-essential clinics such as sexual wellness centres during the pandemic, along with various governments suspending condom handout programmes, contributed to the decline in Karex’s condoms sales, Goh said, according to the report...