UPDATE: German fashion designer Karl Lagerfeld dies aged 85 – MarketWatch

German fashion designer Karl Lagerfeld, known for his white pony tail, dark suits and tinted sunglasses, has died at the age of 85 in Paris, the head of French fashion house LVMH confirmed on Tuesday. Lagerfeld was creative designer for Chanel, but also designed for fashion house Fendi and for his own brand. The designer had been sick and missed a number of fashion shows in the last few weeks. “With the passing of Karl Lagerfeld we have lost a creative genius who helped to make Paris the fashion capital of the world and Fendi one of the most innovative Italian houses,” Arnault said in a statement. “Fashion and culture has lost a great inspiration.” Lagerfeld had been associated with Chanel since 1983 and is credited with modernizing and updating the brand to make it one of the world’s most valuable fashion brands.

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