French luxe brand Chanel says that there is currently no plan to replace head designer Karl Lagerfeld.

“KL is Chanel’s creative director and has a long-term contract that is by no means reassessed,” a representative said. “His succession is not on the agenda.”

Rumor, first surfacing last summer, has it that Lanvin’s creative director Alber Elbaz is in talks with Chanel to take over once Karl Lagerfeld, now 76, retires.

However, ‘proof’ remains very scarce, and most media are referencing speculation from Australian Grazia magazine, which in turn was prompted by prominent blogger Tommy Ton’s tweet that stated:

“I received some news tonight that is going to SHAKE the fashion world in the next two days. CRAZY!!!!”

This was posted on March 9, and so far, nothing has been shook, but it looks as if we won’t have to wait very long for the secret to be disclosed.