A fine story has come to an end. Y/Project has brought to a close its vibrant creative adventure, having failed to find a buyer. The Parisian ready-to-wear label renowned for its inventive fashion has announced, via a post on its Instagram account, that it is officially ceasing operations after 14 amazing years. “We could not have been so successful without the unwavering support of Y/P’s partners, collaborators and fans,” the label said in the post, extending special thanks to Glenn Martens, Pascal Conte-Jodra, and the late Gilles Elalouf and Yohan Serfaty.

Y/Project was placed into receivership on September 26 2024, as reported by FashionNetwork.com, and was seeking an investor as part of a divestiture plan, but it has not managed to find a buyer capable of relaunching it.

It was active in a segment where many labels are facing cash-flow issues owing to the market’s instability, and it seemed clear there was no future for the label in early September, when the departure of Creative Director Glenn Martens was announced. Martens left only a few months after the death in June of Elalouf, Y/Project’s president and its co-founder with Serfaty in 2010.

Martens, a talented Belgian designer who was also named creative director of OTB’s jeans brand Diesel in 2020, joined Y/Project soon after it was launched, as assistant to Serfaty, taking over in 2013 after his death. 

In a few years, Martens managed to give new impetus to Y/Project with his bold designs and innovative, unexpected constructions, while expanding the label’s range and boosting sales. In 2017, he won the Andam Prize as the brains behind Y/Project’s women’s and men’s collections, which until recently used to draw a crowd with their runway shows.

Its revenue had grown from €4.25 million in 2021 to €10.9 million, while EBIT increased by €199,000 to reach €542,000, according to information published by receivership firm 2M&associés.

Conte-Jodra took charge of the company in 2023, and left in July 2024. Y/Project had a staff of 24, including an apprentice, and was distributed mainly through its e-shop and select multibrand retailers.