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The fashion world is reeling from the recent announcement that Y/Project, the renowned Parisian brand known 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 has carved out a unique niche under the creative direction of Glenn Martens. Unfortunately, despite its critical acclaim and devoted following, Y/Project was unable to overcome the challenges faced by smaller luxury brands, leading to its closure. Y Project closing news.
The news of Y/Project’s closure comes as a blow to fans and industry insiders alike. On Thursday, the brand issued a heartfelt statement stating: “After 14 fruitful years, Y/Project has made the challenging decision to cease operations.” The statement marked the end of a chapter for a brand that not only redefined contemporary fashion, but also gained a cult following with its bold, experimental designs.
Here’s everything we know about Y/Project’s closure…
A difficult chapter in luxury fashion
The closure of Y/Project underlines the difficulties many smaller luxury brands face in an evolving economic landscape. The brand was placed into receivership by a commercial court in Paris on September 26, 2024, after failing to find a buyer. One potential suitor, Hong Kong-based asset management firm AA Investments, offered €45,000 for the ailing label, but the deal did not materialize.
This challenging period follows the death of Gilles Elaloufco-founder of Y/Project, and the departure of Glenn Martens, who had elevated the brand to global fame. 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
The appointment of Glenn Martens as creative director of Y/Project in 2013 marked a turning point for the brand. Martens has reimagined the aesthetic of Y/Project, building on the 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 has 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.
The celebrity endorsements added to Y/Project’s allure. By Rihanna Unpleasant Kylie JennerHigh-profile figures embraced the brand’s bold designs, causing items like the $315 ‘janties’ and creased thigh-high boots to become viral sensations.
Economic challenges and a final farewell
Despite the creative successes, Y/Project faced increasing financial pressure. In 2023, the brand achieved a turnover of €11 million, but faced cash flow problems 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 his farewell statement, Y/Project expressed its gratitude to its supporters and partners, noting the contributions of Glenn Martens, Pascal Conte-Jodraand the late Gilles Elalouf. In tribute to his legacy, the brand plans to donate iconic archive pieces to institutions such as the Metropolitan Museum of Art and the Antwerp fashion museum MoMu.
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. The bold 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 in 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 groundbreaking designs. As 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.
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Featured image: Y/Project
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