Karl Goes Global By Timothy Hagy, Paris Editor
Photographed exclusively for Fashionlines by Marie-Béatrice Seillant
PARIS, December 13 - If there is one thing certain
about Karl Lagerfeld, it is that he's a man with a big vision. In
a strategic move aimed at increasing the prominence of his eponymous
label, he has agreed to the sale of Lagerfeld Gallery to American designer
Tommy Hilfiger. The collection under license for
men, women and accessories, and the two boutiques by the same name
located on the left bank of Paris and in Monaco were sold for an
undisclosed sum. The contract will be binding in thirty days time. Karl
will remain artistic director for the label, and the transaction will
not affect Lagerfeld's other lucrative contracts with Chanel and Fendi.
"In choosing a partner to expand my business, I was looking for a company
that has built a business on a global basis and possesses the infrastructure
and resources to make our vision of the Lagerfeld brand become a reality," Lagerfeld
said in a press release this morning. "I have been impressed with
Tommy and his team and I look forward to working together on exciting
new initiatives."
Karl's most recent venture with Swedish
discount retailer H&M ended abruptly when
the company's direction failed to honor
he contract that Lagerfeld had envisioned.
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