The fashion world is reeling from the recent announcement that Y/Project, the renowned Paris-based brand celebrated for its avant-garde designs and twisted constructions, is closing its doors after 14 transformative years. Known for pushing the boundaries of traditional fashion, Y/Project carved a unique niche under the creative direction of Glenn Martens. Unfortunately, despite its critical acclaim and devoted following, Y/Project could not overcome the challenges plaguing smaller luxury brands, leading to its closure. Y Project closing news.
The news of Y/Project closing comes as a blow to both fans and industry insiders. On Thursday, the brand issued a heartfelt statement, declaring, “After 14 fruitful years, Y/Project has made the challenging decision to stop operations.” The statement marked the end of a chapter for a brand that not only redefined contemporary fashion but also garnered a cult following with its bold, experimental designs.
Here’s everything we know about Y/Project closing…
A Difficult Chapter in Luxury Fashion
Y/Project’s closure underscores the struggles many smaller luxury brands face amidst an evolving economic landscape. The brand was placed into receivership by a Paris commercial court on September 26, 2024, after failing to secure a buyer. A potential suitor, Hong Kong-based asset management firm AA Investments, offered €45,000 for the distressed label, but the deal failed to materialize.
This challenging period follows the death of Gilles Elalouf, Y/Project’s co-founder, and the departure of Glenn Martens, who had elevated the brand to global acclaim. The fallout reflects broader industry trends, including the slowdown in luxury spending, delayed payments from retailers, and economic uncertainty, which have affected other notable brands such as Mara Hoffman, Dion Lee, and The Vampire’s Wife.
Glenn Martens’ Transformative Vision
you will be missed Y/Project. pic.twitter.com/YgRLKZozzz
— al (@aldotgee) January 9, 2025
Glenn Martens’ appointment as Y/Project’s creative director in 2013 marked a turning point for the brand. Martens reimagined Y/Project’s aesthetic, building on its foundation of elongated lines and graphic elements with his experimental vision. Under his leadership, the brand became synonymous with avant-garde silhouettes, reconstructed denim, and gender-defying designs.
Martens’ work garnered accolades, including the prestigious ANDAM Grand Prize in 2017 and recognition as a finalist for the LVMH Prize for Young Designers in 2016. The brand’s innovative collaborations, such as partnerships with Jean Paul Gaultier and Melissa, further cemented its status as a forward-thinking fashion house.
Celebrity endorsements added to Y/Project’s allure. From Rihanna to Kylie Jenner, high-profile figures embraced the brand’s daring designs, making items like the $315 “janties” and scrunched thigh-high boots viral sensations.
Economic Challenges and a Final Goodbye
Despite its creative successes, Y/Project faced mounting financial pressures. In 2023, the brand posted revenues of €11 million but struggled with cash flow issues that forced it to cancel its Fall 2024 show. The subsequent suspension of payments to creditors in September 2024 marked the beginning of the end for the brand.
In its farewell statement, Y/Project expressed gratitude to its supporters and partners, highlighting the contributions of Glenn Martens, Pascal Conte-Jodra, and the late Gilles Elalouf. As a tribute to its legacy, the brand plans to donate iconic archive pieces to institutions like the Metropolitan Museum of Art and Antwerp’s MoMu fashion museum.
The Legacy of Y/Project
Y/Project’s influence on contemporary fashion is undeniable. The brand not only challenged conventional aesthetics but also proved that experimental designs could find a loyal audience. Its daring approach to fashion inspired a new generation of designers and left an indelible mark on the industry.
The closure of Y/Project serves as a sobering reminder of the challenges facing independent fashion labels. However, its impact will continue to resonate through the archives, collaborations, and memories of those who cherished its avant-garde spirit.
As Y/Project closes its doors, it leaves behind a legacy of innovation and boundary-pushing designs. While the fashion world mourns the loss of a truly unique brand, the impact of Y/Project’s visionary creations will remain an enduring chapter in fashion history.
Own a piece of fashion history: Shop Y/Project pieces
Featured image: Y/Project
For the latest in fashion, lifestyle, and culture, follow us on Instagram @StyleRave_
—Read Also
