Karl Lagerfeld to Leave Chanel?!

Karl, Olivier, and Alber.

A Shaded View on Fashion reports that a major designer shuffle at the world's top houses is about to occur. Rumor has it Karl Lagerfeld did not renew his contract with Chanel. Lanvin designer Alber Elbaz will reportedly take the reigns from Karl at Chanel, and ex–Nina Ricci designer Olivier Theyskens will replace Alber at Lanvin. Go ahead and freak the hell out. Now, these are just rumors, but in a way, it makes sense. Olivier could do marvelous things at Lanvin, and Alber would be a great fit for Chanel. And Karl? He is 75 years old — he could be on the verge of retirement. But Karl loves to work, so that's hard to imagine. Maybe, just maybe, he'll pursue his life's second calling: show business. First he'll do the voice-over for that French animated movie, then he'll get a bit part in a movie, then a supporting role, then an Oscar nomination, then maybe even Broadway. His name in lights! We see it. As long as he stays away from Ugly Betty cameos. Stay tuned for more developments on these insane rumors.

Fashion Rumour Karl did not sign his contract, rumour has it..... [A Shaded View on Fashion via Pipeline/Refinery 29]