Chanel Feels the Pinch

An ominous sign.

What is the world coming to when Chanel is suffering? The legendary luxury house, which is currently under the reign of King Karl, has just laid off 200 workers and canceled its Mobile Art exhibit. Not good.

What's next? Will Lagerfeld have to sell one of his three Hummers? Or maybe cutback on his Pepsi Max obsession? This is Chanel we're talking about! The world could be ending and the camelias adorning the Paris store wouldn't know the difference.

Despite the economic concerns of the company, we're relieved to know Lagerfeld is still existing in his own bubble. His response to the cutbacks? It was an artistic choice: he had tired of the art inside.