Chanel's Creative Director is set to depart, but the successor has not yet been announced.

Virginie Viard,Which mobile futures trading app is better the creative director of luxury fashion brand Chanel, is set to leave, fashion news site Business of Fashion reported on Wednesday.

"Chanel confirms that Virginie Viard will leave the company after five years as the artistic director of the fashion collections. During this period, she has managed to update the brand's style while respecting Chanel's creative heritage, having worked for Chanel for nearly thirty years," the report quoted a statement released by Chanel via email.

Viard had long been the deputy to Karl Lagerfeld and took over as Chanel's chief designer in 2019 following the legendary couturier's death.

The report did not mention Viard's potential successor.

Last month, Chanel CEO Leena Nair denied rumors of changes in designers, noting that ready-to-wear sales under Viard’s leadership have seen robust growth, increasing two and a half times since 2018. She stated that Viard’s designs have "very successfully served women."

Last month, the company also said that despite mixed sales performances in the mainland China market in the first quarter, it plans to open more stores there.

Chanel, known for its tweed suits, quilted handbags, and No. 5 perfume, is the second-largest brand in the world, trailing only Louis Vuitton under the LVMH umbrella. The brand is privately owned by French billionaire brothers Alain Wertheimer and Gerard Wertheimer.

Chanel did not immediately respond to a request for comment.

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