business, collaboration, fashion, rumors
By Stephanie Murg for UNBEIGE
Just in time for a certain famous Thanksgiving Day Parade comes news that is sure to elicit gratitude among fashion fans: designer Karl Lagerfeld will soon unveil a fashion venture with Macy’s, multiple sources told UnBeige. We hear that the national retailer has inked a deal with the Karl Lagerfeld brand, owned by private equity firm Apax Partners, for an affordably priced ready-to-wear line that will range from jeans to gowns. The new line, slated to launch with a collection for fall 2011, is also expected to include a major online component, with e-commerce as a key distribution channel.
Speculation about the venture has been rampant since early September, when Lagerfeld announced that he would not be showing his signature collection during Paris Fashion Week and instead had a fast fashion line in the works. At the time, Apax said that they were talking with several potential partners for the new “masstige” play. “I wanted this for a long time,” Lagerfeld told WWD in September. “I prefer to work in another way. I can’t compete with Chanel. I don’t want to be the poor child of myself. This has been my vision for years.”