French fashion house Y/Project is ceasing operations after being unable to find a buyer. The company announced this in a message on its website. The message thanks the partners and supporters of the brand, known for balancing classic elegance with bold experimentation, which makes it loved by fashion connoisseurs and celebrities worldwide.
Y/Project was founded in 2010 by the late Yohan Serfaty and Gilles Elalouf. After Serfaty’s death in 2013, Belgian designer Glenn Martens took over creative leadership. Martens brought worldwide recognition to the brand. Internationally recognized, Y/Project has also won awards, including the ANDAM Grand Prize in 2017, making it a major player in today’s fashion industry. Martens stops in September 2024 as creative leader of the critically acclaimed brand.
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Despite cultural success, Paris-based Y/Project has failed to prosper financially. CEO Pascal Conte-Jodra, appointed in May 2023, stated upon his appointment a strategic plan that the brand had to provide more financial value. In February 2024, the company decided to cancel its show for the season due to the ‘uncertain times’. According to court documents obtained by WWD, the company stopped making payments to creditors in September 2024. In October 2024, the French platform M2 & Associés reported that Marine Pace had been appointed as administrator, to whom potential buyers could report. According to the platform, Y/Project achieved a turnover of 10,979,000 euros in the 2023 financial year. In the 2024 financial year, the brand will have a turnover of 9,443,000 euros.
Y/Project stops activities
The message on the website announcing the closure states: “After 14 successful years, Y/Project has made the difficult decision to cease operations. Y/Project and the team would like to thank all partners and Y/P supporters for their unconditional dedication to the brand over the years.”
“A special thanks goes to Glenn Martens, Pascal Conte-Jodra and the late Gilles Elalouf for giving the team space to create and grow.”
Source: fashionunited.nl
