Daniella Helayel

After more than a decade of creating beautiful clothing at Issa, the brand's founder, Daniella Helayel, is walking away.

"The time has come for me to move on to focus on my art, travel, and other interests," Helayel said in a statement. "Creating Issa has been one of the most rewarding things in my life. I may be leaving, but the Issa girl will live forever in my heart." WWD reports that at the end of the year, Helayel will be replaced by Blue Farrier, a designer and fashion consultant who has worked at Chloé, Sandro, and Stella McCartney, among other labels.

Farrier will inherit a brand that has expanded quickly in a short time. Helayel first showed Issa in 2001, and eventually earned warm reviews for her chic and comfortable jersey dresses. But in 2010, when Kate Middleton wore a blue silk-jersey wrap dress from Issa to announce her engagement to Prince William, the brand took off internationally.

Following that iconic moment, Issa revealed plans to relaunch the brand in the United States with an ecommerce site and six brick-and-mortar stores.

The new designer's boss, Issa CEO Angelina Ypma, said Farrier was hired to help the company grow. "Her vision and passion will be vital as we expand into new categories and markets and continue the development of Issa into a truly global lifestyle brand."

>> Camilla Al Fayed, the 26-year-old daughter of former Harrods owner Mohamed Al Fayed (and half sister to Princess Diana's boyfriend at the time of her death), has bought a 51 percent controlling stake in Issa. The London fashion label made headlines worldwide last year when Kate Middleton revealed her engagement in an Issa dress, and Middleton continues to wear pieces designed by Daniella Helayel, who founded and funded the company until now.

Al Fayed will take the title of chairwoman and plans to oversee global expansion of the brand, while Helayel, who continues to hold a 49 percent stake in the label, will remain as creative director. “The investment will help to grow the business and take it to the next level,” said Helayel. “I looked at a lot of investors, and Camilla came with the best fit. She has the infrastructure behind her, she’s well connected, and she will open a lot of doors.”

Al Fayed, for her part, noted that this could be the first of a series of investments, adding: “I believe in Daniella’s creativity; she is a friend; I admire her passion and drive, and I see potential in making Issa a global lifestyle brand.”

>> Bruce Oldfield, who has been tipped as the frontrunner to design Kate Middleton's wedding dress for months now, has confirmed that he is not Middleton's choice: “It has been such a subject of rumor and speculation over the past months, but I am not designing it. We will all know [on Friday] — and I thought I’d duck out of the ‘possibles list’ to give everyone 24 hours to place their final bets!” He added: “Catherine will undoubtedly look spectacular. She has a fantastic figure and knows well what suits her. I shall be intrigued to see her choice of design.”

With Oldfield out of the race, speculation is honing in on the other likely candidates who have not yet issued denials: Catherine Walker, a favorite of Princess Diana; Alice Temperley, and Daniella Helayel from Issa. Also entering late in the game: Jenny Packham, whose spokesperson said yesterday is “not commenting at all on the wedding.”

Sarah Burton of Alexander McQueen, Sophie Cranston of Libelula, and Phillipa Lepley have all also been reported as frontrunners, but all have denied repeatedly that they're working on the dress.

And Vera Wang's name has surfaced as having some kind of role in the wedding, but WWD thinks "that seems highly unlikely" — particularly that Wang, an American, would be chosen to do the dress. Although: sources apparently indicated that the designer may be involved at another level. A Vera Wang spokeswoman denied the designer is involved with the wedding, however, last night.

A newly-released Mario Testino portrait of the Middleton and Prince William, above.

Admittedly, we've been eying Kate Middleton's engagement photos with envy, but it's not just because of the rock, or her fiancé. Actually, since we spied the soon-to-be princess smiling in her easy, sexy, royal blue silk jersey dress, we've wanted to add a piece of the Issa label to our own wardrobes. As luck would have it, the London-based Issa founder and designer, Daniella Helayel, got the message. With sights set on expanding the label into a global brand, Daniella announced plans to relaunch in the US, offer ecommerce through the Issa website, and open six stores in her native Brazil. And, if you're wondering what might be in store for Fall, this designer's got more to love than Kate's little blue dress: "I've got an amazing print archive and hundreds of dress shapes — most of which have never been used."

>> Kate Middleton now has the ring — Princess Diana's own engagement ring, an 18 carat sapphire surrounded by diamonds — but what about the dress?

Now that it has been officially announced that Middleton and Prince William are to wed in Spring or Summer 2011, wedding dress speculation is sure to follow. But Middleton typically goes without big designer labels, instead preferring jeans, tailored jackets from the British designer Katherine Hooker, and practical carryall bags from Longchamp.

She also favors brands like Jigsaw, the high street chain whose owners are old friends of her parents, and Issa, the London-based label known for its jersey and cotton-printed dresses. For the official engagement photos today, Middleton wore a simple blue Issa dress, and the British press are already speculating that Issa's Brazilian-born creator and owner, Daniella Helayel, will do Middleton's wedding dress, as well.