TNR expects the condom industry to recover in 2021, aiming to drive sales growth of 10%
TNR expects after COVID-19 eases, the condom industry will recover in 2021 and aims to drive sales growth by 10%. Thai Nippon Rubber Industry Public Company Limited (TNR) explains after the COVID-19 epidemic improves, the overall condom industry will recover from the previous year. The assumption was based on the scenario that many countries gradually vaccinate, allowing people to return to everyday life, and the entertainment business sector returns to operation. We plan to drive sales growth this year by 10% and prepare to move forward to appoint distributors of PLAYBOY brand products in the region.
Mr. Amorn Dararattanaroj, Chief Executive Officer of Thai Nippon Rubber Industry Public Company Limited or TNR, the largest manufacturer and distributor of natural latex condoms in Thailand, revealed that due to the coronavirus 2019 (COVID-19) in the past year, many countries had implemented lockdown measures to control the situation and solve the epidemic problem. The lockdown affects the overall economy, including the condom industry, with less product demand than in 2019. The entertainment business is affected by the limitation of opening hours.
However, predictably in 2021, the condom industry trend has a chance to recover back to normal. After the medical community has successfully developed a vaccine against COVID-19, many countries gradually vaccinate their people, benefiting from relaxing measures to return to everyday life. The entertainment business sector can resume operations as it did before COVID-19.
The overall global economy will gradually recover. If the restrictions start to relax and allow people to travel, we can target sales growth in 2021 by 10%. We will prepare the production capacity to support new opportunities, including adding distributors under the PLAYBOY brand in foreign countries such as Europe, South America, etc.