Ritex Achieves Record Turnover in 2023
German condom manufacturer Ritex announced a record turnover for 2023, marking approximately 20 percent growth and the highest revenue in its 75-year history.
Bielefeld, Germany – The Bielefeld-based family company Ritex, a manufacturer of condoms, lubricants, and other medical products, has announced a record turnover for the 2023 business year. This achievement represents the highest revenue in the company's 75-year history.
Ritex reported a significant increase in turnover of approximately 20 percent. Robert Richter, a third-generation CEO, stated that this growth demonstrates the trust customers place in their products. He also emphasized the company's commitment to "Made in Germany" quality and local production in Bielefeld, despite recent challenges.
The company has not only achieved economic stability but also strengthened its market position in condoms and lubricants. However, its current facilities in Bielefeld-Hillegossen are becoming increasingly cramped due to the expanding business. Ritex has expressed a desire to remain in Bielefeld but requires space for future growth, noting recent positive signals from the city regarding industrial land development.
Furthermore, Ritex views the recent 2023 study on contraceptive behavior in Germany as a positive indicator for the future. The study revealed that condom usage has risen to 53 percent, surpassing the birth control pill as the most frequently used method for the first time since 2007. This shift is attributed to a growing critical stance towards hormonal contraceptives, reinforcing Ritex's belief in the strong future prospects for German-made condoms.