Kossan Holdings becomes the strategic investor in CARE Latex, Malaysia's leading condom brand
KUALA LUMPUR, May 28 — CARE Latex Sdn Bhd, Malaysia's leading condom brand, has announced a strategic partnership with Kossan Holdings (M) Sdn Bhd, the investment arm of one of the world's largest manufacturers of gloves and rubber products.
This partnership positions Kossan Holdings as CARE Latex's third-largest investor, strengthening the brand's strategic foundation and supporting its long-term growth ambitions in the global sexual wellness market.
CARE Latex's impressive growth trajectory — highlighted by a 1,399 per cent increase in revenue and a 1,615 per cent surge in unit sales from 2018 to 2024 — underscores strong consumer trust and positions the brand as a regional frontrunner and emerging global player.
This strategic partnership with Kossan Holdings marks a pivotal milestone in CARE Latex's pre-IPO journey. It enhances CARE Latex's ecosystem by accelerating product innovation, improving inventory management, expanding research and development capabilities, and broadening market reach through new distribution channels.
Beyond market expansion, the collaboration also aligns with CARE Latex's commitment to public health, particularly in addressing the urgent issue of HIV prevention among Southeast Asian youth.
According to UNAIDS 2023, one in four new HIV cases in the region involves individuals aged 15 to 24, with 93 per cent linked to unprotected sex. In Malaysia, the Ministry of Health's Global AIDS Monitoring Report 2024 indicates that 32 per cent of new HIV infections occur in this age group, and yet condom usage remains below 40 per cent.
CARE Latex is building greater operational capacity and expanding access to trusted protection products by harnessing advanced manufacturing and supply chain strengths — deepening its commitment to preventing sexually transmitted diseases and promoting sex education.
'Welcoming Kossan Holdings as a strategic investor enhances our capacity to scale production, drive innovation, and deliver our mission. Together, we are building a globally respected Malaysian brand that stands for quality, innovation, and social responsibility,' said Bonn Lam Chee Fong, Founder of CARE Latex.
Reflecting on CARE Latex's origins, Bonn added, 'Our journey started with a simple yet powerful insight — if the world's leading condom brands source their latex from Malaysia, why not build a world-class brand here at home?'
'With Malaysia ranking as the sixth-largest producer of natural latex, we are leveraging local strengths to accelerate the R&D pipeline, to launch innovations like Malaysia's first Microbial Barrier condom, designed with antimicrobial and antioxidant properties for enhanced protection.'
Lim Seow Chair, representative of Kossan Holdings, commented: 'We are proud to support CARE Latex, a brand that shares our values of integrity, innovation, and sustainable impact. CARE Latex's focus on sexual wellness, coupled with its inclusive, innovative and science-led approach, aligns perfectly with our purpose-driven investment philosophy.'
CARE Latex is the only Malaysian condom brand with a retail presence in both Singapore and South Korea, distributed through major convenience store chains such as Olive Young and GS25, which has over 17,300 outlets.
Future expansion markets include Singapore, Vietnam, Hong Kong, Macau, New Zealand, and the United States. The company's growth strategy remains anchored in broadening retail reach, advancing product innovation, and exploring acquisitions of local brands.
Multiple new product lines are in development to support this continued growth, including clinical and personal lubricants, pregnancy and HIV test kits, pleasure devices, and wellness supplements.
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