- The venture will be in partnership with personal care manufacturer Ador Multiproducts.
- Shastri will own 49% in the venture, while the remaining 51% will be held by Ador Group.
- The products priced up to Rs 500 will be available online through 23Yards.in and SublimeLife.in and e-commerce platforms Flipkart, Amazon, and Nykaa.
Former Test captain and Indian Men’s cricket team coach Ravi Shastri is gearing up to become an entrepreneur with the launch of a male grooming and hygiene products line ‘23 Yards‘.
Shastri has partnered with personal care manufacturer Ador Multiproducts Limited to create the grooming products, including beard oils, face wash, body wash, aftershave, deodorant, and hand sanitizer for a target group of 25 to 40 years.
“As a player and now a coach, my life has been limited to the 22 yards of the pitch. But what separates a boy from a man is the strive for that extra yard, which is why I have named the company 23 yards,” Shastri told ET.
Shastri will own 49% in the venture, while the remaining 51% will be held by Ador Group.
When asked the reason for choosing a men’s grooming line, Shastri added that it comes from his personal interest in looking and feeling great, which according to him, eventually enhances the quality of your output.
The products priced up to Rs 500 will be retailed through the brand’s own e-commerce platform 23Yards.in and SublimeLife.in as well as marketplaces such as Flipkart, Amazon, and Nykaa.
“Men’s grooming has come of age and is creating quite a steer by projecting a massive compound annual growth rate of about 45%,” said Deep Lalvani, Chairperson Ador Multiproduct.
“We are really excited about joining hands with Shastri for being able to tap into the mildly touched and uninitiated category,” he added.
The brand will seek to set itself apart by the use of specifically and ethically sourced chemical-free/ toxin-free ingredients.
Some of the major competitors for the brand will be Marico’s Set Wet, P&G’s Gillette and RB India Veet, and startups like Beardo, Colgate, and Palmolive-backed The Bombay Shaving Company and Emami-backed The Man Company.
The men’s grooming sector has witnessed strong growth in the last 5 years, with Indian men experimenting with facial hair. As per various estimates, the market has touched Rs 10,000 crore in 2020, from just over Rs 3,000 crore in 2016.
With the closure of salons, beauty/skincare-product retail shops, and outlets because of Covid-19, almost 90% of the grooming-industry market was shut down between March and April 2020. However, the brands have seen a huge influx of demand since the market started reopening in May.