Y/ Project Officially Shuts Down: Paris Fashion Label Ceases Its Operations After 14 Years in the Industry
After 14 remarkable years, the iconic Paris-based brand is closing its doors, unable to secure new buyers. The departure of renowned creative director Glenn Martens and the sad passing of co-founder Gillies Elalouf have significantly contributed to the brand's challenges. As Y/Project takes its final bow, it marks the end of an era filled with innovation and creativity.
In a poignant turn of events, Paris-based fashion house Y/Project has officially announced the end of its journey after 14 remarkable years in the industry. The brand announced a statement to WWD, revealing, “After 14 fruitful years, Y/Project has made the challenging decision to stop operations.” This decision follows the brand's struggle to find a buyer after being put up for sale last year, a tough period compounded by the departure of creative director Glenn Martens and the passing of co-founder Gilles Elalouf. Moët Hennessy Louis Vuitton: LVMH, a Leading Fashion Giant With Significant Growth.
Cult-Favourite Y/Project
Y/Project was founded by Elalouf and the late Yohan Serfaty, making a significant mark on the fashion scene. Tragically, following Gilles Elalouf’s death, the brand entered receivership as determined by a Parisian commercial court. Despite efforts, only a low bid of €45,000 was presented by Hong Kong-based AA Investments, highlighting the challenges faced in this turbulent landscape. In 2023, the company had 24 employees and reported just under €11 million in revenue. Unwrapping in 2025: Leadership Changes and Turnaround Strategies of New CEOs.
Glenn Martens, who had been at the helm as creative director since 2013 until his departure in September 2024, played a crucial role in shaping the brand's identity. Under his visionary leadership, Y/Project garnered critical acclaim, winning the ANDAM Grand Prize in 2017 and becoming a finalist for the prestigious LVMH Prize for Young Designers in 2016. Martens, who joined the team as Serfaty’s first assistant at the brand's inception in 2010, took the reins following Serfaty’s untimely passing in 2013. His creative touch transformed the label into a playground of trompe l’oeil styles and bold silhouettes, including the iconic thigh-high scrunched boots, known for its daring collaborations and innovative designs. Fashion Trends 2025: From Hot Pants to Milkmaid Dresses, Top Style Trends To Elevate Your Wardrobe.
Y/ Project Announces End of Its Journey
In a heartfelt farewell, the company expressed its deep gratitude to all those who supported Y/Project over the years, particularly thanking Glenn Martens, Pascal Conte-Jodra, and the late Gilles Elalouf for fostering a creative environment that allowed the brand to flourish.
In honouring the legacy of Gilles Elalouf, several of Y/Project's iconic pieces will be donated to renowned institutions such as the Metropolitan Museum of Art in New York City, Antwerp’s MoMu fashion museum, Palais Galliera in Paris, and the Musée des Arts Décoratifs. Sadly, Y/Project is the latest casualty in the luxury sector’s ongoing slowdown, leaving a void in the world of innovative fashion. If you happen to possess any of these exquisite pieces, consider yourself fortunate to have a true treasure tucked away in your wardrobe. Each item is not just clothing, but a unique statement of style and elegance, waiting to elevate your fashion collection. Pre-loved Y/Project jeans and scrunchies will increasingly be appreciated for their aesthetic vintage appeal. As we move forward, the charm of these items lies in their unique design and the stories they carry, reflecting a nostalgic fashion sensibility that resonates with today’s trend towards sustainability and individual style.
(The above story first appeared on LatestLY on Jan 10, 2025 12:12 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).