>> Lanvin announced today that an anonymous European family holding company took a 12.5 percent stake in the company, ending a long quest by majority owner Shaw-Lan Wang to take the brand to the next level. The investment — thought to be on the order of about $37 million — is understand to be longterm, so don't expect the brand to change hands any time soon; LVMH's Bernard Arnault has been interested in recent years, but Wang is unwilling to give up majority control as Arnault would require.

“The company is really healthy. We only need to accelerate,” Lanvin EVP Thierry Andretta told WWD of the move. “We will be looking worldwide for great opportunities.”  It is expected that the capital will help expand Lanvin's retail network, and if more funds are needed, the anonymous investor has the ability to inject more while still maintaining a minority share.

How does Alber feel about it all? »

>> Karl Lagerfeld Responds to Rumors of Chanel Retirement —Yesterday evening, Cathy Horyn asked Karl Lagerfeld about the veracity of the rumors that he might be stepping down at Chanel and be replaced by Alber Elbaz of Lanvin: "Mr. Lagerfeld said to forget about it. He was going to die with his boots on. He also mentioned that Alain Wertheimer, whose family owns Chanel, said he would sell the house when the designer leaves. This might not be the case, Mr. Lagerfeld said, but it was a nice thing to be told." [On the Runway]

>> INSIDER WIRE —Despite rumors otherwise, it sounds like Alber Elbaz is happily situated at Lanvin for the long haul: the self-professed Project Runway fan created a new tailoring capsule collection for Lanvin's Cruise 2010 collection inspired by Glenn Close's power suits in Damages. The looks will be produced in the same Italian factories as Lanvin's menswear and mark Elbaz's expansion into a number of capsule collections for next season, including ranges of jersey, long dresses, bridal gowns, and dip-dyed cotton sportswear, as well as his denim line with Acne. [WWD]

>> INSIDER WIRE —Spokespeople at Chanel and Lanvin promptly denied Friday's rumor that Karl Lagerfeld might be exiting Chanel, with Alber Elbaz taking his place and Olivier Theyskens taking over at Lanvin, but over the weekend, Style.com's Derek Blasberg, who was in Venice for the Biennale with a number of fashion insiders, tweeted: "Hold up now, y´all. Word on the street here in Venice is that maybe some of this fashion designer shuffling is true." [The Cut, Derek Blasberg Twitter]

>> While Karl Lagerfeld is preparing for the Chanel Fall 2009 couture show on July 7 — which he plans to hold at sunset in the Grand Palais — 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.

Diane Pernet says both choices "make perfect sense" to her, but why would Alber, who has brought Lanvin profit through wearable clothes, be replaced with Olivier Theyskens, who is hardly known for wearable designs?  Anna Wintour is close friends with Karl Lagerfeld — but close enough to convince him to step down so she can find placement for Olivier Theyskens?

Diane also adds that she heard that Schiaparelli, which is expected to relaunch next year at earliest, has decided to switch directions and focus on a less expensive line.

>> Despite all the drama before and after, the Costume Institute Gala itself furnished plenty of notable and quotable moments; for those who were wondering, Carine Roitfeld did attend, even though it was reported that Julia Restoin-Roitfeld would not.

Gisele Bundchen pulled out of John Galliano's table at the last minute, choosing to ride in with the Versace camp instead; it sounds like she might be returning as the label's Fall 2009 face — the New York Times reports that her custom Versace dress "was conceived while she was modeling for [Donatella’s] next ad campaign." Helena Christensen, meanwhile, joked of her Zac Posen dress, which read "Vogue," the V formed by a plunging neckline: “It’s so I can remember whose party I’m at."

And while Kate Moss was on hostess duty (and presumably her best behavior) for Anna Wintour, she still managed to be herself, pulling a big wad of gum out of her mouth when asked about being a muse: “I’m amused.  I think it’s quite interesting for somebody to go outside of the box and think that a model actually has had some input into fashion. A lot of the time, the models don’t really get a say.”

But they do have a bathroom fascination »

>> In March, The New Yorker did a profile on Alber Elbaz that left him seeming unconfident and unhappy with himself.  Stephanie Seymour sat down with the Lanvin designer for the May 2009 issue of Interview and came away with a glimpse of a different side of Alber — one who doesn't mess with sexy clothes, small talk, or overeager interns.  There is one category, however, that Elbaz feels less than adequate in:

He knows his way around a dress, but can't work the remote.

I have no sense of direction, no technical skills. My boyfriend thinks that I stay with him just because he knows how to work the remote control at home. If it has buttons, I depend on him.  Sometimes I think that I am kind of either f*cked-up or dyslexic. Like, my brain doesn’t get it! Everything that has to do with a machine is hard. But I live with it now. I don’t have a complex about machines — I just don’t know how to use them.

He also likens designing to going into labor. »