Karl Lagerfeld decided to retire. The Kaiser has also chosen the date to say "Auf Wiedersehen" to the world of fashion: it will be in 2012, when he will celebrates 30 years as creative director of Chanel. Of course it will be done in great style, in a bash with unlimited budget and starry guests from around the world.
* As to who will replace Karl at Chanel and Fendi, everything indicates that it’ll be respectively, Alber Elbaz and Olivier Theyskens.