Fashion icon and Chanel boss Karl Lagerfeld has died at the age of 85.
The German-born haute couture designer had been at the helm of French brand Chanel since 1983, after the death of founder Gabrielle 'Coco' Chanel.
'It is with deep sadness that the House of CHANEL announces the passing of Karl Lagerfeld, the Creative Director for the CHANEL Fashion House since 1983,' the brand said in a statement on Instagram.
'Virginie Viard, Director of CHANEL’s Fashion Creation Studio and Karl Lagerfeld’s closest collaborator for more than 30 years, has been entrusted by Alain Wertheimer with the creative work for the collections, so that the legacy of Gabrielle Chanel and Karl Lagerfeld can live on.'
Lagerfeld had been battling pancreatic cancer and died on February 19, reports French magazine Closer.
It is with deep sadness that the House of CHANEL announces the passing of Karl Lagerfeld, the Creative Director for the CHANEL Fashion House since 1983. An extraordinary creative individual, Karl Lagerfeld reinvented the brand's codes created by Gabrielle Chanel: the CHANEL jacket and suit, the little black dress, the precious tweeds, the two-tone shoes, the quilted handbags, the pearls and costume jewelry. Regarding Gabrielle Chanel, he said, "My job is not to do what she did, but what she would have done. The good thing about Chanel is it is an idea you can adapt to many things." A prolific creative mind with endless imagination, Karl Lagerfeld explored many artistic horizons, including photography and short films. The House of CHANEL benefited from his talent for all the branding campaigns related to Fashion since 1987. Finally, one cannot refer to Karl Lagerfeld without mentioning his innate sense of repartee and self-mockery. Alain Wertheimer, CEO of CHANEL, said: "Thanks to his creative genius, generosity and exceptional intuition, Karl Lagerfeld was ahead of his time, which widely contributed to the House of CHANEL's success throughout the world. Today, not only have I lost a friend, but we have all lost an extraordinary creative mind to whom I gave carte blanche in the early 1980s to reinvent the brand." Bruno Pavlovsky, President of Fashion at CHANEL, said: "Fashion show after fashion show, collection after collection, Karl Lagerfeld left his mark on the legend of Gabrielle Chanel and the history of the House of CHANEL. He steadfastly promoted the talent and expertise of CHANEL's ateliers and Métiers d'Art, allowing this exceptional know-how to shine throughout the world. The greatest tribute we can pay today is to continue to follow the path he traced by - to quote Karl - 'continuing to embrace the present and invent the future'." Virginie Viard, Director of CHANEL's Fashion Creation Studio and Karl Lagerfeld's closest collaborator for more than 30 years, has been entrusted by Alain Wertheimer with the creative work for the collections, so that the legacy of Gabrielle Chanel and Karl Lagerfeld can live on.
Lagerfeld's leaves behind an enormous fortune, which reportedly surpasses $AUD279 million.
According to sources, a large sum of this fortune will be left to his beloved Choupette.
The quirky fashion designer was well known for his dark sunglasses and low ponytail.
Anna Wintour, the editor-in-chief of Vogue, described Lagerfeld's creative genius as 'breathtaking'.
'Today the world lost a giant among men,' she said.