Aakaar says in-licensed brands contribute 70% of topline

Aakaar says in-licensed international brands contributed 70% of its topline as of FY 2025-26, making those arrangements central to its revenue mix. Its own-brand products generated Rs 14.9 crore in H1 FY 2027, compared with Rs 28.7 crore from imported or third-party brands during the same period.

How dependent is Aakaar on in-licensed international brands?

Aakaar is dependent on in-licensed international brands for a substantial share of revenue, with management stating that such arrangements contributed 70% of topline as of FY 2025-26. The agreements enable Aakaar to distribute selected aesthetics products across India in professional skincare, professional haircare, injectables and contouring care, and home care for skin and hair.

The FY 2025-26 portfolio identifies INNOAESTHETICS, theraderm, Regenera Activa AMT, Medytox, croma and Invex Health. Aakaar says it has exclusive Indian distribution agreements with INNOAESTHETICS since 2010, theraderm since 2011 and Regenera Activa since 2023; its associations with Medytox and croma began in 2017 and 2018, respectively.

The stated 70% topline contribution is not directly reconcilable with the displayed H1 FY 2027 brand-sales figures. Imported or third-party sales of Rs 28.7 crore and own-brand sales of Rs 14.9 crore total Rs 43.6 crore, with imported brands representing about 66% of that two-category total. Aakaar does not provide a full topline reconciliation and says the brand-sales figures are rounded.

What were Aakaar's own-brand and imported-brand sales?

Aakaar reported Rs 14.9 crore of own-brand revenue in H1 FY 2027, while imported or third-party brands generated Rs 28.7 crore. Imported and third-party revenue was therefore Rs 13.8 crore higher in the half-year, showing that the own-brand portfolio was material but smaller than the international-product business.

Imported or third-party products generated almost twice own-brand revenue in FY 2026, at Rs 44.5 crore versus Rs 22.4 crore. The relationship was similar in H1 FY 2027, when imported or third-party sales were about 1.9 times own-brand sales. Aakaar provides no H1 FY 2026 figures, so the presentation does not establish a year-on-year half-year growth rate for either stream.

Aakaar's own brands span professional skincare, home care for skin and hair, professional haircare, and injectables and contouring care. The portfolio includes SWYADA, EXOLUXE, Lytec, drs1512, TUBELITE and étrelume; Aakaar says it also uses loan licensing and third-party collaborations in supplying its products.

Which Aakaar segments grew fastest from FY23 to FY26?

Professional haircare was Aakaar's fastest-growing disclosed segment from FY23 to FY26, increasing from 1 to 11 in its revenue-growth table for an indicated compound annual growth rate, or CAGR, of about 122%. Aakaar does not state the unit for the values in this table, but the professional haircare CAGR is the highest among the five segments shown.

Professional skincare and injectables and contouring each recorded an indicated CAGR of about 31% over the same period. Professional skincare rose from 9 in FY23 to 20 in FY26, while injectables and contouring increased from 8 to 18; home care for skin and hair rose from 5 to 11, with an indicated CAGR of about 30%.

Aesthetics devices and device consumables had the lowest indicated CAGR, at about 5%, after revenue increased from 6 in FY23 to 7 in FY26. For H1 FY 2027, Aakaar separately reported Rs 3 crore of device revenue and Rs 2.87 crore from device consumables, a combined Rs 5.87 crore.

The segment mix includes both own and imported products. Professional haircare includes drs1512 hair and TUBELITE GFC 360° among Aakaar's brands, alongside imported Regenera Activa AMT; professional skincare includes own brands such as SWYADA and imported brands including ME LINE, theraderm and INNOAESTHETICS.

How is Aakaar expanding its products portfolio?

Aakaar is expanding through in-licensing and own-brand development, with a typical own-brand launch taking 9 to 12 months from ideation. Its stated process covers research and ideation, feasibility analysis, prototype development, formulation and trials, manufacturing, marketing, launch preparation, launch and post-launch evaluation.

For FY 2026-27, Aakaar highlights HUGEL, TESS, VM Corporation and FotoFinder under its in-licensing tie-ups. HUGEL offers botulinum toxin, fillers, skin boosters, threads and bio-cosmetics; TESS offers lifting threads and regenerative injectables; and FotoFinder provides skin imaging and digital dermoscopy solutions.

Devices are a further component of the portfolio. Aakaar says it sold more than 38,500 units of device consumables across India during the last three years, with devices sourced predominantly from third-party suppliers. Regenera Activa is an imported brand for which Aakaar holds distribution rights, while other device brands may be purchased from third parties and marketed under Aakaar's or their own brand names.

Aakaar says its imported range includes brands from Korea, Spain, Italy and Austria. The presentation does not disclose margins, agreement durations, renewal terms or the revenue contribution of individual international brands, leaving the economics of its dependence on those arrangements unspecified.

Conclusion

Aakaar's figures show a revenue mix led by in-licensed international products, with management stating they accounted for 70% of topline in FY 2025-26. Own brands remain a smaller but significant business at Rs 14.9 crore in H1 FY 2027, while professional haircare recorded the highest disclosed FY23-to-FY26 CAGR at about 122%.

What to watch next is the contribution from Aakaar's FY 2026-27 tie-ups with HUGEL, TESS, VM Corporation and FotoFinder, alongside products moving through its stated 9-to-12-month own-brand development cycle. Comparable H1 revenue figures, agreement updates and a topline reconciliation would show whether the revenue mix is changing.