Chanel Shoots Down Rumors of Karl Lagerfeld's Imminent Departure

Countless fashion world rumors have proved to be true in recent months as creative director shake-ups have rocked the worlds of couture and ready-to-wear alike. But at least one of those rumors remains just that -- for now. Despite reports to the contrary, Karl Lagerfeld isn't stepping down from Chanel. Page Six reported yesterday that the soon-to-be 83-year-old Lagerfeld would retire from his role at the famed French fashion house following next month's resort runway show in Cuba. However, a sp...