This story was updated on September 6 at 3:06 pm CET.
PARIS — Glenn Martens is stepping down as creative director of Y/Project after 11 years, the brand and designer announced 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 said Martens “created a compelling story for the brand that has led to a period of impressive growth, garnering 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, highlighting the tough situation for small and mid-sized brands trying to weather the luxury spending slowdown.
The move follows the death of the brand’s co-founder, Jill Ellerof, in June last year, with his brother, Daniel, apparently inheriting his stake in the brand.
Y/Project has developed a cult following for its trademark twisted construction and collaborations with brands like Brazilian shoe brand Melissa and Jean Paul Gaultier, and its designs have been worn by celebrities like Hailey Bieber, Rihanna and Kylie Jenner.
Chief Executive Officer Pascal Conte Jodrat last year revealed plans to double the number of doors and expand its nascent accessories business, possibly with the help of new investors.
Uncertainty about whether Martens would stay on with the brand is said to have hindered efforts to raise new capital – both Conte-Jodra and Martens, who is also creative director at Diesel, had demonstrated their commitment to the company by holding shares in the company and serving on its board.
“Glenn Martens is grateful to Y/Project and the brand’s late CEO, Jill Ellerof, who tragically passed away last June, for giving him the support and freedom to express his vision while expanding on the creative artistry the label has established,” the statement said.
According to a tentative version of the official calendar, Y/Project was scheduled to present its spring 2025 collection during Paris Fashion Week on September 29. A source familiar with the situation said the show has been canceled.