BANGKOK — Thai Nippon Rubber Industries (TNR) has secured the exclusive rights to manufacture and sell “Playboy” condoms worldwide, except in Mexico, for 30 years. TNR will invest between 500 and 800 million baht ($14.7-23.5 million) in a new factory in Chonburi by 2025 and plans to increase production capacity to 3 billion units per year.
On August 26, Amorn Darraratanaroj, Chief Executive Officer of Thai Nippon Rubber Industries Public Company Limited (TNR), a manufacturer and distributor of condoms in Thailand, stated that the global market for condoms is currently worth 200 billion baht ($58.7 billion) and is growing at a rate of 5-7 percent.
The five countries with the highest condom usage are China, the United States, India, Indonesia and Japan. In Thailand, the market is estimated at 1.5 billion baht ($44 million) and is growing by 7 percent annually, in line with the global market trend.
The target demographic will focus on young adults aged 18-36. The company plans to sell premium “Playboy” condoms in Thailand and globally, including in the United States, China, and emerging markets such as India, Vietnam, and Africa.
In addition, the company is preparing to invest around 500 to 800 million baht by the end of next year to build a new factory on a 16-rai plot of land. The company is currently in the process of selecting a site in various industrial areas in Chonburi Province. The new factory will increase the total condom production capacity from the current 2 billion units per year to 3 billion units per year.
“We recognize the growth potential in the premium condom market where consumers, especially the younger generation, see condoms not only as a means of contraception and disease prevention, but also as a way to create new experiences that express their lifestyle and identity. We are confident that this collaboration between TNR PLC and PLBY Group, Inc. will meet these needs and combine the strengths of both companies,” said Mr. Darraratanaroj.
Ben Kohn, Chief Executive Officer of PLBY Group, Inc. and owner of the Playboy brand, expressed his confidence in the long-term partnership with TNR. He is convinced that this collaboration will enable Playboy brand condoms to penetrate global markets quickly.
In addition to condoms, Playboy also plans to develop other products, such as CBD oil-infused lubricants and the production of even thinner condoms than those currently available.
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