Despite Critical Success and Cultural Impact, the Cult-Favorite Paris Label Is Shutting Down After Financial Difficulties
After 14 years of innovative fashion, Y/Project has announced it will cease operations. The brand, known for its distinct fashion forward aesthetic, struggled financially despite its popularity and critical acclaim, including multiple ANDAM awards. The decision to shut down follows the inability to secure a buyer and the impact of broader economic challenges facing the luxury market.
Y/Project was co-founded by Gilles Elalouf and Yohan Serfaty. The brand faced significant challenges following the death of Elalouf and the departure of its acclaimed creative director, Glenn Martens, who had been with the company since 2013. Martens was instrumental in defining the brand’s bold style, marked by experimental silhouettes and innovative design. Under his leadership, Y/Project not only gained a strong celebrity following, with fans including Rihanna and Kylie Jenner, but also won the prestigious ANDAM Grand Prize in 2017 and was a finalist in the 2016 LVMH Prize for Young Designers.
Despite these accolades, Y/Project experienced financial difficulties, highlighted by its placement into receivership by a Paris commercial court and subsequent cash flow problems that led to the cancellation of its fall 2024 show. The company expressed its gratitude for the support it received over the years in a heartfelt statement, noting, “Y/Project and the team thank all partners and supporters for their unwavering dedication to the brand throughout the years. Special thanks to Glenn Martens, Pascal Conte-Jodra, and the late Gilles Elalouf for giving their team the space to create and grow.”
In honor of co-founder Gilles Elalouf, Y/Project will donate several pieces from its archive to notable fashion institutions, including the Metropolitan Museum of Art in New York City, Antwerp’s MoMu fashion museum, Palais Galliera in Paris, and the Musée des Arts Décoratifs. This gesture ensures that while the brand will no longer create new pieces, its legacy and impact on the fashion world will continue to be appreciated.
