News broke yesterday that Derek Lam was leaving his post as creative director of Tod’s after 5 plus years. This morning a follow up story in WWD confirmed that fall 2012 Tod’s collection was indeed Lam’s last collection for the brand but neither party has yet commented. Which leaves things completely open for rumor and speculation.

In a rather off-handed way, WWD dropped this little nugget:

Lam’s departure coincides with continued speculation that John Galliano was in talks with the Italian firm to either do a Tod’s capsule collection or revamp its Schiaparelli brand. However, Della Valle firmly dismissed the rumors.

Um, what?

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