Largest Condom Maker in the world Continue Goes Long
largest condom maker in world had a heck of a first day on the stock market. Shares of Karex Industries—ahem—rose by almost one-third on the Malaysian stock exchange in the company’s public debut on Wednesday. Make no mistake, it is not just getting lucky.
Can you think of a more recession-proof business? There are consumer staples and then there are consumer staples. Thanks to population growth and the immortal recordings of Barry White, global condom sales have increased at a steady 7 percent rate annually. An AIDS vaccine would be one of the few threats to Karex condom business, according to the company’s prospectus.
With about 750 workers, Malaysia-based Karex makes about one in 10 condoms sold anywhere in the world, including popular brands like Carex and LifeStyles. It also makes a batch of other products that pair well with latex, including latex gloves, intimate lube, and something called a “probe cover,” which, frankly, we are afraid to Google. Karex started as a glove business in the late 1980s, in fact, and condom sales only took off in the ’90s as more stringent testing washed out a wave of all others competitors.