Tuesday 19 February 2019 12:25 pm

Fashion industry magnate Karl Lagerfeld dies

Karl Lagerfeld, the designer of haute-couture, died today aged 85, according to reports.

The fashion icon died this morning at the American Hospital on the outskirts of Paris after being admitted yesterday, French site Pure People reported.

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Designer Donatella Versace posted a photo of herself with Lagerfeld to Instagram, saying: “Karl your genius touched the lives of so many, especially Gianni and I.

“We will never forget your incredible talent and endless inspiration. We were always learning from you.”

His death comes a month after he broke a decades-old tradition of greeting fashion fans after a Chanel fashion show in Paris, declining to speak to them.

Lagerfeld worked widely throughout the fashion world, recently serving as Italian firm Fendi’s creative director as well as producing Karl Lagerfeld glasses and sunglasses. He also worked for handbag designer Chloe and H&M.

Bernard Arnault, the chairman of Fendi owner LVMH, called Lagerfeld "a creative genius who helped to make Paris the fashion capital of the world".

Known for his iconic look of dark sunglasses and a white ponytail, Lagerfeld was credited with turning Chanel from a small brand into a global fashion titan.

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When the brand released financials for the first time for 2017 it revealed it had made £1.35bn in profits.