Rumor: Karl Lagerfeld to Step Down at Chanel, With Alber Elbaz Stepping In? While Karl Lagerfeld is preparing for the Chanel Fall 2009 couture show on July 7, rumors are swirling about his future at the company. Although he has said in the past that he doesn't plan to retire, it's circling that he will not renew his contract at Chanel, that Alber Elbaz will take his place, and Olivier Theyskens will take Alber's place at Lanvin.
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