CHANEL CRUISE 2012 CANNES, France — “This is incredible. I feel like I’m on vacation,” model Frankie Rayder exclaimed as she arrived for a fitting at Karl Lagerfeld’s temporary Chanel studio — a vast, plush room at mythic Hotel du Cap-Eden-Roc with the same panoramic view of the glistening Côte d’Azur that enchanted the likes of Pablo Picasso a few generations earlier. And that’s precisely what Lagerfeld was after with his latest collection for Chanel. “Cruise is always about going away,” reasoned Lagerfeld, returning for the second year running to the South of France. But unlike the carefree, Bohemian spirit of his Saint-Tropez outing in May 2010, this collection worked…