Chanel Shushes Karl Lagerfeld Retirement Rumors

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.