Bogart Group recorded revenue of €114.7 million for the first half of 2026, down 7.4% at current exchange rates and down 5.3% on a comparable basis at constant scope and currencies.

The company attributes the decline to an economic and geopolitical environment unfavorable to consumption, which weighs primarily on its retail activity. The group is continuing the reorganization of that retail business in parallel.

Despite the headline contraction, Bogart highlights the resilience of its fragrances and cosmetics activity, which shows a slight performance improvement against the broader group trend — the one operating bright spot management chose to emphasize in the half-year communication.

For a group that straddles both brand ownership and store networks, the split matters. The retail drag — driven by pressured consumer spending — is being managed through structural reorganization rather than short-term promotional fixes, while the product side of the business holds firmer. Buyers and distribution partners dealing with Bogart's fragrance and cosmetics lines should read the like-for-like decline of 5.3% as heavily concentrated in retail operations rather than a uniform weakness across the portfolio.

The gap between the reported decline (7.4%) and the constant-scope figure (5.3%) also signals that currency movements and perimeter changes amplified the headline drop — a factor worth separating out when benchmarking Bogart against pure-play brand owners this reporting season.

The next data point to watch: whether the ongoing retail reorganization shows up as sequential stabilization in second-half figures, or whether the consumer environment continues to erode store-level sales into 2027.