The company will start selling personal care and hygiene products, including beard oils, face wash, body wash, aftershave, deodorant and hand sanitiser and target the 25 to 40 target age group.
Shastri will own 49% in the venture, while the remaining 51% will be with Ador Group.
“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.
He added that the reason for choosing a men’s grooming line comes from his personal interest in looking and feeling great, which according to him, eventually enhances the quality of your output.
“As a cricketer, I groom the Indian Cricket team to challenge themselves. I am not here to teach anyone anything new but rather instill the art of success and taking that extra yard,” he said.
The brand will seek to set itself apart by the use of specifically and ethically sourced chemical free/ toxin-free ingredients. The products will be priced at Rs 299 and more, targeting the mid-segment market for the still under-tapped, men’s grooming category.
“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.”
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.