We are a world leading social inhalation business, combining the tradition of hookah with the latest technology
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About AIR Global
AIR is a global innovative leader in social inhalation. Headquartered in Dubai, the business has a presence in over 90 markets. Its portfolio of brands includes Al Fakher, world’s largest manufacturer of hookah molasses by volume; Hookah.com, America’s leading B2B e-commerce platform for hookahs and shisha; OOKA, a pioneering charcoal free, pod-based hookah system, among others.
AIR’s science program, conducted in partnership with independent accredited laboratories, enables the development of innovative products that combine centuries of tradition with cutting edge innovation to minimize harm and maximize enjoyment for millions around the world. AIR has commissioned independent scientists to research emissions from conventional and electronic waterpipes relative to cigarettes and heated tobacco products, which has been published by Scientific Reports, a peer-reviewed scientific journal.
AIR by the Numbers
$375 Million
FY24 Core Product Net Revenue1,2
$150 Million
FY24 Core Product Adjusted EBITDA1,2,3
40% FY24 Adjusted EBITDA Margin
$149 Million
FY24 Consolidated Net
Cash Generated from Operating Activities1
FY24 Consolidated Net Cash Generated from Operating Activities1
Al Fakher owns
3 of the Top 5
Global Flavors4
~1 Billion
Hookah servings of our products enjoyed worldwide annually5
14 Million
Consumers worldwide6
8
Production facilities of which 5 facilities operated by third parties
$115+ Million
Investment in our OOKA and Vant products
(FY19 to H1’25)
~150
Patent Portfolio across our products as H1’25 of which 85 are granted across the jurisdictions we file in
Company Highlights
A Well-Established Business with Unique Competitive Moats
World’s Leading Brand
Home to 3 of the top 5 global hookah flavours, with ~ 50% market share in core markets — larger than the next four competitors combined.7
Global Reach and Unrivalled Route-to-Market
Global hookah player serving 90+ markets. Downstream capabilities combine owned and third-party distributors with leading e-commerce platforms.
“Must-Have” Products
Our portfolio includes in-demand products for both wholesalers and lounges catering to adults.
Retail Strength
60% market share in the U.S., 50% in KSA, and 40% in Spain.8
Loyal Customer Base
Up to 47% of Al Fakher customers across key geographies express strong loyalty to both brand and flavour.9
Innovation Pioneer
Diversified and innovative portfolio catering to existing and emerging segments.
Regulatory Expertise
Expertise in engagement with regulators, with a proven track record of successful outcomes and the resources necessary to seek and obtain required regulatory authorizations and licenses.
A Winning Business Model Anchored in Strength & Innovation
AIR has a winning business model anchored on a stable, resilient, and long-established core operation. This strong foundation is continuously expanded through revolutionary innovation and category diversification.
Core Business
Traditional Hookah
Al Fakher, Zodiac, and Shisha Kartel — market-leading brands with decades of heritage and trust among global consumers.
Brand Expansion into Adjacent Categories
Extending the Al Fakher brand into new product areas while maintaining flavor leadership and premium quality.
Leading E-commerce sites in hookah
Portfolio of high-margin, future-ready digital platforms — including Shisha-World, Hookah.com, and OOKA.com — driving growth and global reach.
Shisha-World
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Hookah
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Shisha
New Growth Categories
Press release
November 2025
Snoop x Al Fakher: Flavor meets culture
Snoop Dogg and Al Fakher have joined forces to create a core collection of six premium hookah flavors that fuse Snoop’s laid-back style and Al Fakher’s commitment to impeccable quality. Each blend is carefully crafted to offer a smooth and satisfying experience. Rolling out across multiple countries, the collection will be available around the world so fans everywhere can experience the essence of Snoop’s signature taste.
July 2025
AIR and Cookies Debut Flavor Collaboration in the USA
AIR joined forces with globally recognized lifestyle brand Cookies to co-create a line of shisha flavors, now available in the United States. This collaboration blends Cookies’ cultural influence with AIR’s flavor innovation and market expertise, resulting in a fresh and unique collection that resonates with a new generation of consumers. The partnership marks a bold step into lifestyle-led flavor development and deepens AIR’s presence in the U.S. market.
April 2025
Peer-Reviewed Study Validates the Science Behind OOKA and Shisha
A scientific study supported by AIR has been published in Nature Scientific Reports, offering peer-reviewed validation of the science behind traditional shisha and the OOKA system technology. The study provides new insights into heat transfer, aerosol emissions, and the compositional differences between charcoal-based and pod-based systems. This publication reinforces AIR’s commitment to transparency, research, and continuous product development.
April 2025
Launch of Hookah.com: The New Global Hub for All Things Hookah
AIR is proud to announce the launch of Hookah.com, a new all-in-one platform designed to serve the evolving needs of today’s hookah enthusiasts. By consolidating SouthSmoke.com and Hookah-Shisha.com under one unified brand, Hookah.com offers a seamless, user-centric shopping experience with advanced search functionality, curated collections, and expert-driven educational content. The site is poised to become the definitive online destination for both new and experienced users worldwide.
April 2023
Zodiac Pods: The First-Ever Tobacco- and Nicotine-Free Molasses in Pod Format
As part of its commitment to responsible innovation, AIR launched Zodiac, a pioneering line of OOKA-compatible pods that contain no tobacco or nicotine. This industry-first format reimagines the shisha experience by offering flavorful, satisfying sessions without the traditional ingredients. Zodiac sets a new benchmark for the future of mindful, modern hookah.
April 2023
OOKA Launches in the UAE, Redefining the Shisha Experience Across Global Markets
AIR pioneered OOKA, a revolutionary pod-based device that reimagines the traditional shisha experience with modern design, intelligent heating technology, and a charcoal-free format. Launching first in the UAE, OOKA offers users a cleaner, more consistent, and hassle-free alternative to conventional setups, without compromising on flavor or ritual.
March 2023
Shisha Kartel Launches in Spain
AIR officially launched Shisha Kartel, a bold new brand developed entirely in-house and introduced to the Spanish market. With a modern identity and a flavor-forward product range, Shisha Kartel marks a significant milestone for AIR as its first proprietary brand launch since 1999; one that blends innovation, style, and regional relevance.
December 2022
AIR Expands in the U.S. Market with Acquisition of SouthSmoke.com
AAs part of its expansion into North America, AIR acquired SouthSmoke.com, one of the longest-standing and most recognized online retailers in the U.S. hookah market. Serving both B2B and consumer markets, the platform complements AIR’s growing collection of best-in-class digital assets, enabling deeper reach and a more connected customer experience across the region.
April 2022
AIR Acquires Shisha-World.com, Europe’s Leading Shisha Retail Platform
AIR successfully acquired Shisha-World.com, the number one online destination for shisha products in Germany and across Europe. The platform caters to both end consumers and business clients, offering a wide range of products and accessories. This strategic acquisition strengthens AIR’s digital footprint in the European market and reinforces its commitment to delivering high-quality products and services through trusted local platforms.
March 2019
Hookah-Shisha.com Joins AIR: the leading Platform in the North American Hookah e-commerce landscape
AIR acquired Hookah-Shisha.com, the leading e-commerce platform and one of the most trusted names in Hookah retail in the USA. Known for its broad product assortment and dedicated customer base, South Smoke brings local insight and a loyal following to the AIR portfolio, reinforcing our presence in a key international market.
Investor presentation to come
Footnotes
- The audit of the consolidated group financial statements has been conducted in accordance with ISA standards.
- Core Product includes the production and sale of traditional shisha tobacco under the Al Fakher and other non-OOKA brands.
- Adjusted EBITDA is a non IFRS financial measure. Revenue is the most directly comparable IFRS metric.
- Three of the top five flavors worldwide by sales volume: Two Apples, Mint and Gum with Mint as per Arthur D Little Industry Report 2023.
- Based on our annual product volume divided by average hookah serving size of ~25g.
- As of December 2024.
- Which include KSA, USA, Iraq and the UAE according to the Arthur D. Little Industry Report 2023.
- As of the year ended 2024.
- According to Arthur D. Little Industry Report 2023, 47% of KSA respondents state they are loyal to both brand and flavour.
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