The aerosol-generating article include a plurality of elements coaxially aligned and assembled within a wrapper, the article having an outlet end and a distal end upstream from the outlet end. The article includes a liquid aerosol-forming substrate, and a liquid retention medium for retaining the liquid aerosol-forming substrate. The wrapper is formed from a sheet of liquid-impervious material, the liquid retention medium being in a first element of the plurality of elements.
