Nicolas Ghesquiere

Nicolas Ghesquiere

Karl Lagerfeld thinks Nicolas Ghesquiere should launch his own fashion line.

Chanel's creative director is confident the French designer - who has just announced his decision to part ways with Balenciaga on November 30 - would be successful creating his very own label, and thinks fashion mogul Bernard Arnault should invest in him.

Speaking at the Parisian launch of his touring Little Black Jacket photography exhibition, Karl told Reuters: "Perhaps Nicolas wants to have his own label, which is not a bad idea. And it would not be a bad idea if somebody such as Bernard Arnault would invest in a new label because there are so many old labels [within LVMH]."

Nicolas has been at French fashion house Balenciaga's helm for 15 and a successor has not yet been named.

Alexander Wang, Joseph Altuzarra, Christopher Kane, and Nicolas' assistant, Natacha Ramsay, have all been tipped to take over as creative director.

Francois-Henri Pinault, chairman and CEO of PPR who own Balenciaga, announced: "Cristobal Balenciaga was a master, a genius whose avant-garde vision dictated fashion's greatest trends and inspired generations of designers.

"With an incomparable creative talent, Nicolas has brought to Balenciaga an artistic contribution essential to the unique influence of the house."