Y/Project, fashion's subversive darling, to shutter after 14 years

The Paris-based fashion house Y/Project, known for its avant-garde designs and architectural silhouettes, announced on Thursday it will cease operations, marking another casualty in the challenging luxury fashion landscape of the post-pandemic era.

The label, which generated revenues of 11 million euros in 2023, failed to secure new ownership after entering administration in September 2024, according to WWD. This development followed the departure of its celebrated creative director Glenn Martens, whose 11-year tenure had transformed the brand from a niche label into a significant voice in contemporary fashion.

The closure represents a poignant end to a brand marked by both triumph and tragedy. Founded in 2010 by Gilles Elalouf and Yohan Serfaty, Y/Project has weathered the loss of both its founders - Serfaty's early passing in 2013, and more recently Elalouf's death in June 2024. The latter event precipitated a transfer of majority ownership to a family member, adding complexity to the brand's governance during a critical period.

Triumphs and tragedies

Under Martens' creative stewardship, Y/Project garnered significant industry recognition, including the prestigious ANDAM Grand Prize in 2017. The brand's innovative approach to deconstruction and gender-fluid design also earned it a finalist position in the 2016 LVMH Prize for Young Designers, cementing its status in the vanguard of contemporary fashion.

Despite reported interest from potential buyers, including an unsuccessful bid from a Hong Kong management firm, the company's 24-strong workforce will be affected by the closure. The outcome reflects the increasingly challenging environment for independent fashion houses operating at the intersection of luxury and avant-garde design.

In a final gesture that underscores the brand's cultural impact, Y/Project will donate significant archive pieces to several prestigious institutions, including the Metropolitan Museum of Art in New York, MoMu in Antwerp, and Paris's Palais Galliera and Musée des Arts Décoratifs, WWD reported. This initiative, dedicated to the memory of Gilles Elalouf, ensures the preservation of the brand's creative legacy.

The closure raises questions about the sustainability of independent fashion brands in an industry increasingly dominated by luxury conglomerates. Pascal Conte-Jodra, who served in the company's management, along with the creative team, were acknowledged in the closing announcement for their contributions to what had become one of Paris's most watched runway presentations.

Y/Project's closure may signal broader challenges facing independent luxury fashion houses as they navigate post-pandemic market dynamics, supply chain pressures, and changing consumer preferences.