Karl Lagerfeld Net Worth

Karl Lagerfeld: The Net Worth and Legacy of a Fashion Icon

Karl Lagerfeld, a name synonymous with high fashion, was a German designer and photographer who left an indelible mark on the industry. This article delves into Lagerfeld’s impressive net worth, his illustrious career, personal life, and the controversies that swirled around him. We also explore his lasting impact on the world of fashion and his enduring legacy.

Early Life and Influences

Born Karl Otto Lagerfeld on September 10, 1933, in Hamburg, Germany, Lagerfeld’s early life was marked by an artistic inclination. His mother, Elisabeth, worked in lingerie sales, and his father, Otto, was a successful businessman involved in evaporated milk production. Lagerfeld had an older sister, Martha, and a half-sister, Theodora, from his father’s previous marriage. From a young age, Lagerfeld displayed a keen interest in visual arts, often sketching in class, a precursor to his future career.

Career: A Trailblazing Fashion Journey

Lagerfeld’s career took off when he moved to Paris at age 14. Two years later, he won the coat category in an International Wool Secretariat design competition. This victory led to a friendship with Yves Saint Laurent, the winner of the dress category, and marked his entry into the world of high fashion. He began his professional journey as a junior assistant to Pierre Balmain and later became Balmain’s apprentice. After three years, Lagerfeld took on the role of artistic director for Jean Patou. His freelance work for various brands, including Chloé and Valentino, further solidified his reputation. However, his long-standing associations with Fendi and Chanel would define his career.

• Fendi: Lagerfeld modernized Fendi’s fur line in 1967, remaining with the brand until his death.
• Chanel: In the early 1980s, he was hired to revitalize Chanel, a decade after Coco Chanel’s death, and significantly revamped the ready-to-wear line. These lifetime contracts with both brands ensured a minimum of $50 million in annual income.
• Prolific Designer: Late in his life, Lagerfeld consistently designed over a dozen collections per year, solidifying his reputation as the most prolific fashion designer of the 20th and 21st centuries.

The Karl Lagerfeld Brand

In 1984, Lagerfeld launched his own fashion label, Karl Lagerfeld, aiming to channel “intellectual sexiness.” This venture expanded his influence beyond his work for established fashion houses. He also ventured into collaborations and other creative projects:

• Collaborations: A denim collection with Diesel founder Renzo Rosso, called Lagerfeld Gallery by Diesel, showcasing limited-edition pieces.
• K Karl Lagerfeld: A new line featuring jeans and t-shirts for men and women, launched in 2006.
• Other Ventures: Designed a teddy bear in his likeness for Steiff, a crystal art collection with Orrefors, and a collection of functional sculptures with Carpenters Workshop Gallery.

Personal Life and Relationships

Karl Lagerfeld’s personal life was as intriguing as his professional one. His relationship with Jacques de Bascher, a French aristocrat, socialite, and model, lasted 18 years. Lagerfeld was quoted as saying, “I infinitely loved that boy, but I had no physical contact with him. Of course, I was seduced by his physical charm.” Jacques died of AIDS in the late 1980s, and Lagerfeld remained by his side. He was also known for his love of his Birman cat, Choupette, who became a beloved companion and even a beneficiary in his will. Lagerfeld’s lifestyle included a rigorous diet, which led to significant weight loss. He was also an avid collector of books, amassing a personal library that was one of the largest in the world.

Patrick Aventurier/Getty Images

Controversies and Perspectives

Lagerfeld, while an undeniable talent, wasn’t without his critics. His support for the use of fur in fashion sparked controversy, leading to clashes with animal rights groups like PETA. While he didn’t wear fur himself, he argued that hunters “make a living having learnt nothing else than hunting, killing those beasts who would kill us if they could,” and that in a meat-eating world, fur’s condemnation was “childish.”

Death and Estate

In January 2019, rumors of Lagerfeld’s declining health began to circulate when he missed Chanel’s Spring/Summer 2019 Haute Couture shows. He passed away on February 19, 2019, from pancreatic cancer at the American Hospital of Paris. In his will, he requested cremation, with his ashes to be mixed with those of his mother and his beloved cat, Choupette. A celebration of his life, “Karl For Ever,” was held at the Grand Palais in Paris in June 2019, attended by 2,500 people.

His estate was complex, and the process of distributing his assets was fraught with challenges. While six beneficiaries were named in his will, including Choupette, there were reported delays in accessing the funds. Lagerfeld’s estate included properties in Paris, Vermont, Biarritz, and Monaco. In March 2021, Sotheby’s announced an auction of some of Lagerfeld’s possessions in Monaco.

The Legacy of Karl Lagerfeld

Karl Lagerfeld’s influence on fashion is undeniable. He revitalized iconic brands, launched his own successful label, and consistently pushed creative boundaries. His impact went beyond clothing, encompassing photography, art, and design, establishing him as a true cultural icon. His ability to evolve with the times while staying true to his design principles ensured his lasting impact on the world of fashion.