KARL LAGERFELD to step down from CHANEL by 2012

Rumours have intensified this week in the entire international media about the retirement of Karl Lagerfeld early 2012, which marks his 30th year at CHANEL. Although he said he will never retire, the company management are anticipating his departure. The most likely candidate to replace Lagerfeld at Chanel is Alber Elbaz, the designer of LANVIN, who has revived the French brand and brought it to incredible financial results.

Karl Lagerfeld is not only the designer of Chanel but also the creative director of FENDI. He also designs his own label which, this year he conceived as a more affordable product and it is sold only online. Last month, he signed a capsule collection for Italian accessories brand HOGAN which is owned by TOD’S.