Y/Project
France
Y/Project is a Paris label founded in 2010 by Yohan Serfaty and Gilles Elalouf, known for deconstructed, multi-way clothing under creative director Glenn Martens. It was placed in administration in September 2024 and announced in January 2025 that it would cease operations after 14 years. No new owner was found in the sources reviewed.
| Founded | 2010 |
|---|---|
| Founders | Yohan Serfaty and Gilles Elalouf |
| Headquarters | Paris, France |
| Status | Announced closure in January 2025 |
| Creative director | Glenn Martens, 2013 to 2024 |
What is Y/Project?
Y/Project was a Paris fashion label that began with menswear and later added womenswear. It was founded in 2010 by the French designer Yohan Serfaty and the businessman Gilles Elalouf and became known for exaggerated, architectural and multi-way pieces.
History
Serfaty died of cancer in 2013. Belgian designer Glenn Martens then became creative director and led the brand for about 11 years. Under him the label was recognised for deconstructed pieces, trompe-l'oeil and twisted denim, hybrid constructions and gender-fluid styling. British Vogue described it as proof that "bonkers is best". Later commentary linked its exaggerated, multi-way designs to Y2K nostalgia and social media appeal.
In 2024 Elalouf died in June, and the majority stake passed to his brother. Martens left as creative director in September, and a Paris commercial court placed the brand in administration on 26 September. The administrator, 2M & Associés, set a bid deadline of 16 October, and no buyer had emerged by then. The autumn/winter 2024 show had been cancelled over liquidity problems.
Closure
FashionUnited reported on 9 January 2025 that Y/Project would shut down after 14 years, citing the failed sale process and a difficult post-pandemic luxury market. A Hong Kong management firm had bid unsuccessfully. The label reported turnover of just under 11 million euros in 2023 and employed 24 people.
Business model and distribution
The sources reviewed do not document Y/Project's store network or channel split. Martens also served as creative director of Diesel from 2020, as reported by NSS Magazine.
Why it matters
Y/Project is a case study in the fragility of independent designer labels in the 2024 downturn, where the loss of a founder and creative director in the same year left no route to a buyer. As of the sources reviewed, no relaunch is documented.
Frequently asked questions
What happened to Y/Project?
Y/Project entered administration in September 2024 after the death of co-founder Gilles Elalouf and the departure of Glenn Martens. In January 2025 it announced it would cease operations after 14 years.
Who founded Y/Project?
Y/Project was founded in Paris in 2010 by designer Yohan Serfaty and businessman Gilles Elalouf. Glenn Martens became creative director after Serfaty's death in 2013.