PARIS (Reuters) - Star designer Karl Lagerfeld said the departure of Nicolas Ghesquiere from Balenciaga as artistic director to create his own brand with backing from LVMH's Bernard Arnault would "not be a bad idea" as the group owned many old labels.The International Herald Tribune reported this week that one option for Ghesquiere was to create his own brand with the backing of Arnault, who controls LVMH, the world's biggest luxury group, which owns many fashion brands including Louis Vuitton, Fendi and Celine.
Balenciaga did not explain Ghesquiere's departure clearly when it made the announcement on Monday but it suggested the designer was longing for a new creative adventure.
Lagerfeld, who runs his own brand on top of working as artistic director for LVMH's Fendi and for privately owned Chanel, said he could not think about the succession.
Also present at the exhibition's opening was Bruno Pavlovsky, president of Chanel's fashion division, who like Lagerfeld would not be drawn too long on the subject of the designer's succession.
Pavlovsky said Chanel planned to finish the year with 10 boutiques in China and 182 globally.