"Dear Shaded Viewers, This is not a fact until you officially read it somewhere else but rumour has it that Karl Lagerfeld will not renew his contract at Chanel and that Albert Elbaz will take his place and Olivier Theyskens will take Albert's place at Lanvin. Both choices make perfect sense to me. Schaparelli has decided to change directions and do a not so expensive line . Nothing is engraved in cement, these are still just rumours you will have to wait and see. Later, Diane" From Ashadedview.com Just a rumor but I wouldnt be surprised if it was true.