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Karl Lagerfeld has announced that he is launching a new, more affordable line. The collection is to be called ‘Karl’ and prices will range from €60 to €450, a huge drop from the usual price-points for his designs.

“I just want not too expensive clothes that people may like and perhaps want to wear. That was my concept for a long time, but my business partners in the past wanted to be like Chanel or Fendi without putting behind what is needed to be like that.” he told WWD.

The range will be made up of 100 pieces that include evening and daywear and will go on sale in January on luxury site, NET-A-PORTER.com, though there are plans to open Karl Lagerfeld stores in the future.

This comes as Lagerfeld pairs up with Fossil to design a new line of watches to be launched in Spring 2013. The 78 year old designer has previously collaborated with Macy’s, H&M, Diet Coke, Hogan to name a few.

By Katie Clinton

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Click here to read about Lagerfeld’s sold out collection for H&M in 2004