Y/Project Listed For Sale
Following Glenn Marten’s recent departure and co-founder Gilles Elalouf’s death.
On September 26 legal filings confirmed that Y/Project was placed into a receivership by a Paris commercial court as reported by WWD. The filing commences a buying process that will give potential owners until October 16 to place their bid on the company.
Designer Glenn Martens, who’s become synonymous with the label, had just departed from the brand on September 6 after an 11 year tenure. The shakeup led to the cancellation of Y/Project’s planned Paris Fashion Week SS25 presentation, which was meant to take place on September 29.
Though court proceedings began following co-founder Gilles Elalouf’s June 2024 death, cash-flow issues have already impacted the brand’s cancelled FW24 presentation. Additionally, the former CEO Pascal Conte-Jodra had only been with the company for one year before his departure this past July.
While things seem to have fallen through rather quickly, Y/Project had many bright moments in Marten’s final years including the FW22 collection which featured tromp l’oeil designs by Jean Paul Gautier. Martens’ still hold’s his position as creative director at Diesel that he began in 2020, refreshing the Italian denim brand with edge and appeal for a new generation.
Stay posted for more updates on the future of Y/Project on Hypebeast.
