Y/Project closes after facing financial difficulties

Y/Project closes its doors after 14 years in fashion, failing to find a buyer and facing financial difficulties. A farewell to Elalouf’s legacy.

The Parisian brand Y/Project, known for its innovative constructions and experimental approach, has announced the cessation of its operations after failing to find a buyer. The brand, which celebrated 14 years in existence, has become one of the latest victims of the slowdown in luxury spending and the financial troubles affecting small fashion brands.

The closure came after Y/Project was placed under receivership in September 2023, following the death of one of its co-founders, Gilles Elalouf, and the departure of its creative director, Glenn Martens. Despite a €45,000 offer from the investment firm AA Investments, Y/Project chose not to accept the proposal.

Throughout its journey, the brand gained significant recognition, known for iconic items like thigh-high boots and ‘janties,’ as well as collaborations with brands such as Melissa and Jean Paul Gaultier. Celebrities like Hailey Bieber, Rihanna, and Kylie Jenner were spotted wearing its designs.

The company, which reported revenues of nearly €11 million in 2023 and employed 24 people, thanked its partners and followers for their support over the years. Additionally, it announced the donation of several archive looks in honour of Elalouf to institutions such as the ‘Metropolitan Museum of Art’ in New York and the ‘Palais Galliera’ in Paris.