Paris-based fashion house Y/Project shuts down operations after 14 years
The fashion world is in shock as Paris-based fashion house Y/Project has announced its decision to cease operations. In a statement to WWD, the company revealed, “After 14 fruitful years, Y/Project has made the challenging decision to stop operations.” This news comes after the brand failed to find a buyer since listing for sale last year.
Brand struggles to find buyer following creative director’s departure and co-founder’s death
Y/Project, founded by Gilles Elalouf and the late Yohan Serfaty, has faced numerous challenges in recent years. After the death of co-founder Gilles Elalouf and the departure of creative director Glenn Martens, the brand was placed into receivership by a Parisian commercial court. Despite efforts to find a potential buyer, including a bid from Hong Kong-based asset management firm AA Investments, the brand was unable to secure a deal.
Under Martens’ creative leadership, Y/Project gained critical acclaim
Martens, who had been Y/Project’s creative director since 2013, was responsible for the brand’s success and critical acclaim. During his tenure, Y/Project won the ANDAM Grand Prize in 2017 and was a finalist for the 2016 LVMH Prize for Young Designers. Martens’ unique vision and collaborations helped to elevate the brand’s profile and establish its signature style of trompe l’oeil and exaggerated silhouettes.
Brand expresses gratitude to partners and supporters
In a statement, Y/Project expressed gratitude to all their partners and supporters for their unwavering dedication to the brand. They specifically thanked Martens, Pascal Conte-Jodra, and the late Gilles Elalouf for their contributions to the brand’s growth and success.
Brand’s archive looks to be donated to prestigious fashion museums
In honor of co-founder Gilles Elalouf, several of Y/Project’s archive looks will be donated to prestigious fashion museums, including the Metropolitan Museum of Art in New York City, Antwerp’s MoMu fashion museum, Palais Galliera, and the Musée des Arts Décoratifs in Paris.
Y/Project joins list of luxury brands affected by current slowdown
Unfortunately, Y/Project is not the only brand to suffer in the current luxury climate. The brand joins a growing list of fashion houses that have been forced to close their doors due to financial struggles. The fashion world mourns the loss of Y/Project and its unique and innovative designs.
