Condom/Thai Nippon Rubber Industry

Editorial staff

SET-listed Thai Nippon Rubber Industry Plc (TNR) gets a new 30-year global license agreement from PLBY Group Inc, the owner of Playboy, to design, produce, and distribute its condoms globally, except Mexico for 30 years.

TNR will also plans to spend 500-800 million baht to set up a new factory in Chonburi on about 16 rai plot to expand its annual production capacity of condoms from currently 2,000 million to 3,000 million pieces. Of the total capacity, 30-40% will come from Playboy condoms over the next five years.

Amorn Dararattanaroj

Amorn Dararattanaroj, TNR's CEO, said the company has currently operated manufacturing factory at Pinthong Industrial Estate in Chonburi province, the east of Bangkok with a capacity of 2,000 million pieces per year. About 90 % of the total have been exported to 110 countries worldwide.

Thai Nippon Rubber Industry has been established for over three decades, developing and producing almost 100 brands for condom companies and exporting to over 100 countries worldwide.

By acquiring global license for Playboy condoms, TNR is able to exclusively distribute and market Playboy condoms all over the world, except Mexico.

It plans to distribute Playboy condoms to four strategic markets next year, including China, South Korea, India and the US. It expects to achieve sales of Playboy condoms at about 2 billion baht next year.

Mr Amorn adds that the condom market in Thailand is valued at 1.5 billion baht. Of the total, 1 billion baht is at premium segment. The market is growing at about 7 % per annum, which is in line with the global condom market, which witnessed an average growth rate of between 5 -7 % per year.

Mr. Amorn said that the growing potential of the premium condom market is huge, particularly among younger consumers who view condoms not only as a means of contraception and disease prevention but also as products that enhance their experience, reflect their lifestyle, and express their identity.

“We expect to achieve 50% market share and to be a leader in Thailand’s premium condom market within the next three years,” he said.

Amorn Dararattanaroj and Ben Kohn

Ben Kohn, CEO of PLBY Group Inc, who has discussed the importance of the new licensing deal, saying that “This global agreement with TNR Plc, a respected condoms manufacturer known for its cutting-edge innovation, enables high-quality, Playboy-branded products to rapidly enter markets around the globe."

“This strategic partnership with TNR Plc marks a significant business milestone, and we look forward to working with TNR Plc on the execution of their go-to-market strategy,” he said.

The event unveiled TNR's go-to-market strategy, which includes the immediate expansion of the Playboy condoms brand into new markets. Leveraging their extensive global network, the company plans to distribute in key territories such as the United States, China, and emerging markets, like India, Vietnam, and Africa, where income levels are rising. TNR shared plans to develop line extension products, including lubricants infused with CBD (cannabis oil) and thinner condoms with more sensitivity without compromising protection.