1Following the departure of Glenn Martens, its creative director, in the wake of the death of its co-founder, Gilles Elalouf, the Y/Project label filed for bankruptcy at the end of September. Since then, the millennial fashion brand has had until mid-October to find a buyer.
Y/Project is for sale.
Its parent company, the French In-carnation, indicated its intention to sell the creative label in an announcement published on October 3 by the insolvency administrator firm, 2M & Associés.
Y/Project was placed in receivership by the Paris Commercial Court on September 26.
Candidates for the takeover had until October 16 to submit an offer.
But while the creative label for men and women has managed to sell some of its models like hotcakes in the past, buyers don’t seem to have been lining up to acquire the company itself…
Slippery slope
In fact, Y/Project has recently found itself on a slippery slope in an environment that has darkened for fashion and luxury…
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Featured Photos: © Y/Project
