This story was updated on Sept. 6 at 3:06 p.m. CET.
PARIS — Glenn Martens is stepping down as creative director of Y/Project after an 11-year tenure, the brand and the designer said on Friday.
“Y/Project thanks Glenn for his unique contributions to the label and wishes him the best for the future,” the statement said.
The brand credited Martens with creating “a fascinating narrative for the brand, leading to an impressive period of growth, earning both critical acclaim and commercial success.”
The surprise announcement comes after Y/Project was forced to cancel its fall 2024 runway show due to cash flow issues, underscoring the tough landscape for small and mid-sized brands navigating the slowdown in luxury spending.
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It follows the passing of Gilles Elalouf, the cofounder of the brand, last June. It is understood his brother Daniel has inherited his stake in the brand.
Y/Project has won a cult following with its trademark twisted constructions and collaborations with brands including Brazilian footwear label Melissa and Jean Paul Gaultier. Celebrities including Hailey Bieber, Rihanna and Kylie Jenner have sported its designs.
Chief executive officer Pascal Conte-Jodra last year revealed plans to double the number of doors and ramp up its fledgling accessories business, possibly with the help of a new investor.
Uncertainty about whether Martens would remain at the brand is said to have hampered the search for fresh funds. Both Conte-Jodra and Martens, who is also creative director at Diesel, had signaled their commitment to Y/Project by taking a stake in the company and sitting on its board.
“Glenn Martens thanks Y/Project and Gilles Elalouf, the late CEO of the brand who tragically passed away last June, for giving him the support and freedom to express his vision while expanding on the creative artistry that the label established,” the statement said.
Y/Project was scheduled to show its spring 2025 collection on Sept. 29 during Paris Fashion Week, according to the provisional version of the official calendar. The show has been canceled, sources familiar with the matter said.
