Chanel Shushes Karl Lagerfeld Retirement Rumors

05/16/2010 05:12 am ET | Updated May 25, 2011

Chanel released a statement meant to quiet rumors that head designer Karl Lagerfeld is retiring, Vogue UK reports.

"Karl Lagerfeld is the creative designer of Chanel and has a long-term contract with the company. Replacing him is not an issue," a Chanel rep said.

The latest gossip was that Lanvin's Alber Elbaz would be replacing Lagerfeld.

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