Karex CEO closure of hotels marred the sex industry..!!
New Delhi, Jan. 11 (Delhi Crown): Contrary to the general belief that lockdowns would have increased “intimacy” among couples leading to a rise in sale in condoms worldwide, even as global giant Karex faced a 40% decline in its sales in the last two years.
To make up the losses suffered over pandemic, the company has taken to manufacturing rubber gloves to boost its overall sales.
CEO of Malaysia based company Goh Miah Kiat was quoted as saying recently that use of its products actually declined as much as 40% in the last two years.
The company produces over 5.5 billion condoms annually and operates in 140 countries. Its closest competitor, Thai Nippon Rubber, churns out about 2 billion, reported Japan’s media organisation Nikkei.
“It is easy to assume that people staying home amid movement restrictions “had nothing [to do] but have sex, right?” said Kiat, and added – “This has not been the case. In developing and less-developed countries, hotels and motels play important roles in providing secluded spaces for intimacy, given generally crowded homes where privacy is at a premium.”
Karex CEO further stated – “[Hotel stays were] disrupted by the pandemic. The sex industry — normally a major condom market — has been far less a factor in the last two years.”