Y / Project
Parisian brand Y/Project announces closure
The Parisian brand of women's and men's clothing and footwear Y/Project, known for its innovative design and having gained a huge number of fans, has finally announced the termination of its activities.
Following the death of brand president and co-founder Gilles Elalouf in 2024, the brand's affairs fell into disarray and on September 26, the company was placed into receivership. Y/Project was looking for a buyer for its asset, but did not find it, and was forced to cease operations after 14 years of development.
As Fashion.Network.com writes, operating in a sector where many brands are facing cash flow issues in a highly volatile market, Y/Project's fate seemed sealed following the departure of creative director Glenn Martens in September 2024.
The talented Belgian designer, who has also been responsible for the style of denim brand Diesel (OTB) since 2020, joined Y/Project shortly after its launch, serving as an assistant to Y/Project's second founder, Johan Serfaty, who passed away in 2013. Following Serfaty's death, Glenn Martens took over the creative direction of the brand. He has managed to give Y/Project new momentum, expanding its offering and increasing sales.
According to information published by the court administrators firm 2M&associés, Y/Project's turnover has increased in recent years from €4,25 million in 2021 to €10,9 million, while its operating profit over the same period has risen from €199 to €542.
Pascal Conte-Jaudra, who was appointed CEO in 2023, left the company in July. The Y/Project brand had 24 employees and was distributed mainly through a network of multi-brand resellers and its own online store. In Russia, Y/Project clothing, footwear and accessories are presented in the Moscow concept store KM20.
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