Haute Couture News. Karl Lagerfeld Plans to Stay with Chanel, Versace finds New CEO

June 9, 2009 • Fashion

From left: Karl Lagerfeld, Olivier Theyskens, and Alber Elbaz

After a major shift was rumored to occur between several haute houses and their head designers, It has been reported that Karl Lagerfeld will in fact stay with his iconic label Chanel, which he has been heading up for over two decades. Speculations had been made late last week that the 75 year old designer was considering retirement and would be stepping down from his lofty post. The news sparked a media whirlwind of who Lagerfeld's successor would be, creating a sort of musical chairs for several other heads of house.

The most probable replacement for Lagerfeld seemed to be chief designer of Lanvin, Alber Elbaz. Although it was not confirmed that Elbaz was looking for creative outlets outside of his house, filling Lagerfeld's buttery leather shoes  seemed an opportunity Elbaz would readily enjoy. And if Elbaz were to have taken the reigns at Chanel, the empire he built at Lanvin would be passed down as well.

A probable candidate to replace Elbaz could have been Nina Ricci's former head designer Olivier Theyskens, who has recently left the Ricci label and has been searching for new adventures in couture. The 32 year old designer has been linked to other houses potentially, such as Halston and Schiaparelli, but has yet to confirm he will be heading up any new labels. Lanvin would have been a tasty tidbit for the young designer to continue cutting his teeth.

But alas, all this speculation is for naught due to the confirmations that were released Saturday, according to "a good source", that Lagerfeld would continue his reign at Chanel. Plus, even if Lagerfeld was making plans to depart, Elbaz does have a substantial ownership stake in the house of Lanvin, as stated by business news resource Business of Fashion. Well, if neither Lagerfeld or Elbaz are leaving their labels, perhaps one of these fashion patriarchs could extend a hand to recently ousted colleague Esteban Cortazar.

Versace's new CEO Gian Giacomo Ferraris

In other breaking news, Versace's struggle after losing it's CEO Giancarlo Di Risio last week was ended abruptly when his replacement was announced today. Gian Giacomo Ferraris, current CEO of Jil Sander, and the most expected choice, will replace Di Risio at Versace. To fill Ferraris' CEO slot, the company will promote Alessandro Cremonesi, currently the chief financial officer for Jil Sander.

Article Sources, nymag.com, A Shaded View of Fashion, WWD
Photo Source: nymag.com, flickr

-Alia Rajput

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