CARE Condoms – 打造国际认同的大马品牌安全套 | Become the Global Trusted Malaysia Condom Brand

RM 1,648,740
Investors 192
Minimum investment RM 500,000
Funding goal RM 1,500,000
Funded Successfully

Care Latex Sdn Bhd


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Background

Sometimes, it is not necessary to have a long-term plan before stepping into an industry. It could be a mere coincidence or due to an unexpected opportunity will change a person’s life.

When Bonn Lam, the founder of CARE reminisced the history of his entrepreneurship journey, it was all about making the right decisions at the right time that led the company successfully to be established.

“I recalled back in 2005, while having afternoon tea at the mamak stall with three friends of mine, with the average age of 30 years old. They were from different working fields, such as the catering and air-conditioning industry. However, out of the blue, another friend suddenly flashed out a condom and started to recommend its usage and benefits."

Bonn Lam received the product from his friend and soon after he picked up the packaging and researched it, he found out that the manufacturer of this international condom brand was actually made locally in Malaysia. He pondered, why not produce a local brand since the products made in Malaysia can be taken by international companies, and eventually sold back to Malaysia. This will definitely create new business opportunities and to win glory for the country.

After the question was raised, it was supported by his friends. At the moment, four of them decided to work together to conduct comprehensive research on the entire Malaysia condom market. Later, they found that the main condom brands in Malaysia are mainly based in the United Kingdom, Australia or the United States. There are also some local brands, but most of them lack of clear marketing positioning and packaging. It looks inferior if compared with the condom produced in the western countries. 

"At that time, almost all condom brand designs took a relatively obscene approach. The packaging focused on mainly sexy girls, which could cause embarrassment and uneasiness for customers while making the purchase.  After research and analysis, we decided to lock our target audience who were born in the 80’s. This group of people prefer minimalist design concepts, which is also the foundation for the current CARE condom design style."

Since one of the partners is a designer, after a brainstorming session, everyone finally decided to use "colour" and "number" to reflect the SKU (specification, colour and style) of the product.

Bonn Lam explained that colours and numbers are actually the elements that are particularly sensitive to consumers. When they walk into a pharmacy or a convenience store, these condoms that are designed with colours and numbers as selling points will easily stand out from their competitors. Once they are satisfied after using the condom, they can directly remember the colour and number making them a recurring customer the next time.   

However, once the design and marketing plans had been finalised, they received multiple rejections by the factories. Most of the manufacturers commented that it is difficult to break through in this industry due to the high barrier nature. Also, CARE’s design concept is novel and being the first of its kind did not align with the aesthetic trend of the time.   

Fortunately, they were being introduced by a broker to a manufacturer who was willing to collaborate with them. Soon, they also met with a purchasing manager of a large pharmacy chain. After the product presentation, CARE condom finally had their first launch at that pharmacy chain.

 

The transition period of CARE

CARE was launched in 2005 supplying to the said pharmacy chain and soon to one of the largest convenience stores in Malaysia which is 7-11. Initially, it was sold in only 60 locations of 7-11 convenience stores. Upon receiving tremendous positive response from the users, the team expanded to hundreds of 7-11 convenience stores domestically.

As the business grew, a new shareholder joined the company and also hired a manager to lead the team. Unfortunately, due to the poor business management, the company business hits rock bottom. The company's performance was at loss for a few years and all the shareholders ultimately decided to withdraw from the business during the Annual General Meeting back in year 2018. Bonn Lam then made a decision to personally manage the business with his wife in hope that the business will be back on track.

“In order to re-start the business, I’ve spent hundreds of thousands for self-improvement, mainly enrolling myself into business management courses. On the other hand, I also made a major revamp on the company organisation including reorganisation, revising the company’s brand positioning, product rebranding, marketing & promotions and other adjustments on the products to be more customer oriented.” 

The “Nipis” product was then later introduced and that’s is the turning point for the company when the sales picked-up. 

 

The Unique Selling Preposition of CARE

"Nipis" product is not only representing the new branding for CARE, but it also sets a new milestone for product sales and positioning.

Bonn Lam revealed that through research and development with new manufacturer Care22, Nipis was recognised by Malaysia's Book of Records for being the thinnest natural latex condom in Malaysia measuring at only 0.04mm thick. Such recognition has helped to increase the brand awareness and further stimulate the sales on the upward trend. 

At the moment, there are many products and each of them are unique based on the numbers and colours for differentiation. Among the products are the Care23 with ultra-thin vanilla flavour, Care24 with ultra-thin chocolate flavour, Care28 with ultra-safe vanilla flavour, Care38 with thread vanilla flavour, Care48 with convex strawberry flavour, and Care60 without seminal vesicles and super-fitting lavender flavour.

In addition to developing different series of products according to the consumer needs, Boon Lam also made an exclusive deal with 7-11 convenience stores and ECO-Shop to launch exclusive products that could only be bought at these stores. Such a unique marketing strategy has led to an increase from 2,000 to 5,500 distribution channels within less than a year.

Due to the current Covid-19 pandemic, the government implemented a series of lengthy movement control orders. This was seen as a golden opportunity by Bonn Lam. He quickly shifted his business from offline to online platforms and started to use digital advertising to his advantage to promote the products. The change has definitely brought in success when the online sales performance has increased eightfold within a short period of time. The customer base has then continued to expand, and this triggers another business idea which is business expansion through crowdfunding.  

 

The blueprint of CARE

As there is still a high demand for the condom market, Bonn Lam sees the potential to further expand the business. He plans to develop a new “Subscription Model” with a target to earn RM 8 millions of revenues from the untapped market for the next 5 years.

Malaysia is one of the world's largest condom exporters because the country is also one of the world largest producers for natural rubbers with high latex quality. Bonn Lam believed that using these to the business advantages, it is the time to dive into exports of CARE condoms.

(Sources: Statista, 2021; The Star, 2012.)  

In fact, there are currently no local made condom brands being sold in the international markets. Since, we have had one of the best condom materials, production technology, and 2 Malaysia’s Record under the company’s belt, we have decided to export the products to Hong Kong, Macau and South Korea by the end of this year.

In addition, CARE pledged to carry out various corporate social responsibility activities such as promoting educational condom usage with the Malaysian AIDS Council (MAC), distributing free condoms to high-risk users as part of education and creating awareness to the society with regards to sexually transmitted diseases. 

 

The scale and purpose of crowdfunding

As the Malaysian market being more saturated, entering the international market will be the best breakthrough to increase the company market share.

Unlike the local market, the global market has larger potential for the condom market. CARE products with its diversified and minimalist design concepts, will easily capture the attention of young millennials. Hence, it is expected to create a sudden surge of buying interest in the international market. 

By entering into the international market, it means higher working capital and resources are required for marketing and R&D purposes. After careful considerations, I believe Mystartr crowdfunding is the best platform to begin with.

Bonn Lam targets to raise RM 1.5 million through this crowdfunding campaign. The breakdowns are 40% on working capital, 20% on marketing, 20% on R&D and the remaining 20% for international expansion. Half of these overall funded costs will be used to break into the international market.

Bonn Lam also added that he has three aspirations, mainly the funding, networking/ connections and resources to achieve through the crowdfunding campaign while hoping to be able to promote the local condom brand in the international market. 

 

Why should you consider investing in CARE?

  • A Malaysian founded company established in 2005 which aimed to fill the niche gap in the condom market and by providing a series of unique and distinctive products.
  • Through the high-quality latex produced in Malaysia, we are able to manufacture our products with high quality at a reasonable price, safely and effectively.
  • Nipis product was officially launched in 2019 after a good 16 years of research and development. Nipis was awarded the title of "Thinnest Latex Male Condom" by Malaysia's Book of Records and was selected as the official condom brand by the Malaysian AIDS Council.
  • CARE condoms are manufactured with strict quality control conforming to the highest ISO and other related industry standards. It has been registered under the Malaysia Medical Device Authority (MDA) and these products not only meet global quality standards but exceed them.
  • The company’s vision is to become the Malaysia No.1 local condom brand by providing high-quality products at a reasonable price while promoting the importance of safe sexual engagement to the society as part of corporate social responsibility.
  • Committed to work closely with NGOs to reduce sexually transmitted diseases and unintended pregnancy rates in Malaysia.
     

Website: www.carelatex.com
Facebook: https://www.facebook.com/CareCondomsMY/
IG: https://www.instagram.com/carecondomsmy/
Whatsapp: Contact us


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你所不知道的CARE创业背景

有时,踏入一个行业未必是经过长期部署的规划,而是可能一次机遇的偶然撮合,从此就改变某些人的一生。

CARE安全套创办人林子风回想当年的创业历史,就是当下天时地利人和的奇妙配合,才促成这家公司的营运雏形。

「还记得2005年,我跟3个平均年纪30岁的朋友某天在Mamak档喝茶,这些人来自不同领域,包括饮食业与冷气业。某个朋友突然拿出安全套,积极推荐它的使用效果。」

对于朋友的好意,林子风当然二话不说收下。但他拿起包装研究后,发现这个国际安全套品牌的制造商竟来自大马。他心想——既然大马制造的产品都能受到国际公司认真,最终却售回大马,那为何不生产一个本土品牌?这样不仅无需为他人做嫁,赚取纯生产的低利润外,还能打造新商机,并趁机为国争光呢。

疑问提出后,竟获得朋友回响。当下四个人就决定分工合作,针对整个大马的安全套市场进行全盘研究,后来发现主要品牌都以英国、澳洲或美国等为主,本地品牌也有一些,但多数都没有明确的市场行销定位与包装,摆在西方生产的安全套旁就相形见拙。

「我还记得,当时几乎所有安全套品牌设计都走比较猥亵的路线,封面包装皆是性感女郎,无形中也会导致购买安全套的人莫名尴尬。经过研究分析后,我们决定把目标群锁定在80后的年轻市场,这批人都比较喜欢干净俐落的设计,这也奠定目前CARE安全套的基础设计风格。」

由於其中一个伙伴是设计行业出身,经过集思广益后,最终大伙决定透过「颜色」与「号码」来体现产品的SKU(规格、颜色与款式)。

林子风解释,一般来说,颜色与号码其实是消费者特别敏感的元素。当走进货品琳琅满目的药妆或便利店,看到架子上都是性感设计的安全套时,这些以颜色与号码为设计卖点的安全套就容易「鹤立鸡群」。一旦使用满意后,下次就可以直接记住号码购买,方便且有效率。

不过,当他们做好设计与行销计划,想找工厂配合时,却接连遭到不同厂商泼冷水。厂商大都认为这个行业门槛太高,新品牌很难进入,加上CARE的设计概念新颖,不符合当时审美潮流,因此连续吃闭门羹。

幸好,经过一名经纪介绍,团队遇到对的厂商愿意生产,不久后也顺利与一家大型连锁药妆店的采购部经理会面,后者听完整个产品与行销汇报后,直接点头批准产品在各连锁店上架,最终打响CARE安全套面市的第一炮。

 

CARE的转型过渡期

CARE2005年面市后,销售网络刚开始只锁定在特定连锁药妆店。后来经过洽谈后,成功进驻大马其中一家最大型的便利店7-11。当时原先在60间便利店试卖,获得不错回响后,才全面性在国内数百家7-11全面上架。

随着业务扩大后,当时公司曾引入一名新股东,并聘请一名经理来带领团队。孰不知这段期间经营不善,反而让公司业务陷入谷底,业绩一度好几年连续亏损,最终大伙于2018年召开股东大会后,其他股东都决定退出,林子风最终决定与妻子抓起管理重任,重新出发。

「为了重整旗鼓,我甚至花了上百千报名修读企业管理课程,并进行一连串重组方向,包括修正公司定位、重定产品品牌、行销推广到位,并将产品调整成以顾客为导向。」

经过一番整顿后,「Nipis」产品诞生,并顺势让公司展开了浴火凤凰的重生之路,让销售曲线起死回生。

 

CARE安全套卖点

Nipis」不仅只是代表CARE全新出发的名字,它也为产品销售与定位立下新里程碑。

林子风透露,透过与新厂商的合作研发,Care22 Nipis安全套厚度仅有0.04mm,是大马目前最薄的天然乳胶安全套,并获得大马记录大全(Malaysian Book of Records)认证,这也间接让CARE提高品牌知名度,进一步刺激销量走高。

目前,旗下产品多元,并延续用号码与颜色来标签不同产品的独特性。包括超薄香草味的Care23、超薄巧克力味的Care24、超安全香草味的Care28、螺纹香草味的Care38、凸点草莓味的Care48,及没有储精囊、超合身薰衣草味的Care60等。

除了根据消费者需求开发不同系列产品外,林子风还与7-11便利店及Eco-Shop合作,推出跨界专属的安全套产品作为卖点,不到1年内,就成功将销售据点从2000多个倍增至5500个,让公司打了漂亮的翻身仗。

虽然去年全球经历新冠肺炎,导致政府推行漫长的行动管制令,但林子风抓紧时机快速应变,将线下业务迅速转移至线上,并透过各种数位广告手段促销,结果在短时间内,线上销售成绩反而翻了8倍,顾客群不断扩展,加上拥有一个积极热忱的团队配合,促使林子风拥有了众筹拓展业务的决心。

 

CARE的梦想蓝图

由於目前安全套市场仍有庞大的消费潜力,为了进一步能扩大市占率,林子风计划开发全新的「订阅模式」(Subscription Model),以期在未来5年,透过这个新蓝海市场赚取800万营业额。

众所周知,大马是最大的天然橡胶生产国之一,生产最优质的乳胶,加上目前是全球最大的安全套出口国,集合这两种优势后,林子风认为此时是将CARE安全套出口的最佳时机。

(资料来源: Statista, 2021; The Star, 2012.)  

「事实上,目前没有一个大马品牌的安全套在国际市场贩卖。既然我们拥有安全套原料与制作技术,加上目前CARE已拥有2项大马记录大全认证,因此我们决定在今年尾将产品出口至香港、澳门与韩国市场,希望能把大马制造的荣誉发扬光大。」

另外,CARE也会继续推行各种企业社会责任活动,包括与大马艾滋病理事会(MAC)进行各种推广安全套使用措施活动,并免费派发安全套给高风险使用群,希望能提升社会对性行为的防护意识,减少各种疾病感染。

 

众筹的资金规模与目的

由於大马市场规模太小,也有了固定的消费模式,为了让CARE的业务有突破性发展,进军国际市场是最好的出路。

目前全球的安全套市场潜力庞大,加上CARE 产品包装设计多元俐落,记忆点偏高,是时下年轻人喜欢的风格,预料在国际市场上会掀起一股买气。

进军国际市场意味着要有更多的营运资本、人力资源、行销策略及研发费用,经过几番考量后,认为Mystartr众筹活动是让业务杠杆的最好平台。

林子风希望透过这次的众筹活动,可以筹措150万令吉。其中40%将运用在营运资本,20%为行销策略费用,20%为研发与注册费,其余20%这是出口铺货开销,而总额的50%都与进军国际市场的费用有关。

他也补充,透过众筹希望能一举完成3个愿望——融资金、融人才、融资源,并希望能将大马安全套品牌推广到国外,让大马再次在国际舞台上发光。

 

CARE安全套投资重点

成立于 2005 年的大马公司,旨在填补安全套市场的利基缺口,并提供一系列与众不同的独特产品。

  • 通过大马享誉国际的优质乳胶,制造价格合理、质量优良、安全有效的避孕套。
  • 经过16年研发,CARE2019年推出的新产品Nipis,被大马记录大全授予「马来西亚制造的最薄乳胶男用安全套」称号,并获大马艾滋病理事会选为官方安全套品牌。
  • CARE 安全套受 ISO 质量体系监管,达到最高的工业标准,同时也通过 ISO要求的评估和认证,并已获得马来西亚以医疗器械管理局( MDA 注册。这些产品不仅符合全球质量标准,还超越这些标准。
  • 愿景是成为大马第一大本地安全套品牌,提供高品质且价格合理的产品,向社会宣传安全性行为的重要性,为社会做出贡献。
  • 致力于减少性传播疾病和意外怀孕率,因此将继续与非政府组织密切合作,并对所有机会持开放态度,以实现崇高的使命。

 


Website: www.carelatex.com
Facebook: https://www.facebook.com/CareCondomsMY/
IG: https://www.instagram.com/carecondomsmy/
Whatsapp: Contact us


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    • Maturity Period: 4 years
    • Number of share: 12,812
    • Subscription Price per share: RM 20.00

    12,812 x RM20.00 = RM256,240
     

    Additional rewards: customized

Disclaimer by Securities Commission

  • No shares will be allotted or issued based on this document after six months from the closing of the offer period.
  • This issue, offer or invitation for the offering is a proposal not requiring authorisation of the Securities Commission under section 212(8) of the CMSA 2007.
  • This document has not been reviewed by the Securities Commission Malaysia. The Securities Commission does not recommend nor assumes responsibility for any information including any statement, opinion or report disclosed in relation to this fund raising exercise and makes no representation as to its accuracy or completeness. The Securities Commission expressly disclaims any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the information disclosed.