Y/Project Placed into Receivership by Paris Commercial Court
On September 26, it was confirmed through legal filings that Y/Project, the Paris-based fashion label, has been placed into receivership by a Paris commercial court. This news was first reported by WWD, and it marks the beginning of a buying process that will allow potential owners to place their bids on the company until October 16.
Designer Glenn Martens Departs After 11 Years
The departure of designer Glenn Martens, who has become synonymous with the Y/Project brand, was announced on September 6. Martens had been with the company for 11 years before his departure, and his exit led to the cancellation of Y/Project’s planned Paris Fashion Week SS25 presentation, which was originally scheduled for September 29.
Court Proceedings Begin Following Co-Founder’s Death
While court proceedings officially began after the death of co-founder Gilles Elalouf in June 2024, the brand has already been facing cash-flow issues that resulted in the cancellation of their FW24 presentation. In addition, former CEO Pascal Conte-Jodra left the company in July after only one year with the brand.
Y/Project’s Bright Moments Under Martens’ Direction
Despite the recent shakeup, Y/Project had many successful moments during Martens’ final years as creative director. One notable highlight was the FW22 collection, which featured tromp l’oeil designs by Jean Paul Gautier. Martens has since taken on the role of creative director at Diesel, where he has been refreshing the Italian denim brand with his edgy and appealing designs for a new generation.
Stay Tuned for Updates on Y/Project’s Future
As the buying process for Y/Project begins, stay tuned for more updates on the future of the brand on Hypebeast. With new ownership and potential changes on the horizon, it will be interesting to see where Y/Project goes from here.
