The French perfume and cosmetics group reported sharply lower 2025 results, citing a deteriorating economic and geopolitical environment and adverse currency effects. While EBITDA remains positive, the group is seeing a marked drop in revenue.

As of December 31, 2025, the group’s reported revenue was of EUR 264.1 million, compared with EUR 288.8 million last year, representing a decrease of 8.5% at current exchange rates (-7.5% at constant scope and exchange rates).

“This trend is attributable to a deteriorating global economic environment, which weighed on consumer spending, particularly in France but also across Europe in general. In the export, the implementation of new tariffs in the United States also significantly slowed sales in that market, leading distributors and retailers to reduce order volumes. This trend was amplified for more affordable lines, while the selective and prestige fragrance segment showed signs of resilience,” Group Bogart commented in a release.

The net income attributable to the group fell sharply to a loss of EUR 22.6 million, compared with near break-even in 2024 (EUR -0.4 million).

In this context, Bogart undertook a major restructuring of its store network: in Dubai, the group refocused its operations on a single high-visibility store (Dubai Mall) and closed 30 unprofitable stores in Europe (9 stores in France, 10 stores in Germany, and 11 stores in Belgium).

This strategy continues in 2026. April France SAS, the group’s retail subsidiary in France, has launched a workforce reduction plan covering a total of 17 out of 35 stores and approximately 40 out of 105 positions, a provision of EUR 1.6 million is booked for the plan.

For its Fragrances & Cosmetics division (which includes brands such as Aholic, Carven, Jacques Bogart Paris, Méthode Jeanne Piaubert, Rose & Marius, Stendhal and Ted Lapidus), the group said it is “confident” of returning to revenue growth in 2026, despite current conditions, driven by new product launches and the resumption of commercial operations in the U.S. Bogart also expects positive momentum from the expansion of its partner network after its reference shareholder agreed to acquire Germany’s Parfümerie Pieper network.