After reading a post by LDN Fashion.Karl Lagerfeld is said to be retiring from the famous house of Chanel coming 2012. Nothing is confirmed yet, however, there are rumors that he'll retire on the his 30th anniversary with the house with a huge go away bash.
As for who will be his successor? Rumor has it that Lanvin's very own Alber Elbaz is in discussion to take over the thrown. The juiciest story since Yves Saint Laurent took over Chirstian Dior.
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