After several years of battling the tax authorities, the heirs of the great couturier Karl Lagerfeld, who will die in 2019, have decided to wipe the slate clean of past financial troubles. They have reportedly stopped disputing the designer’s debts in order to receive their share of his immense fortune.
On 19 February 2019, Karl Lagerfeld died, leaving behind an impressive and unique career in fashion design. While his fashion legacy has been celebrated by the world, another legacy has not failed to make news: his colossal fortune, estimated at over €200 million. Childless, the Kaiser bequeathed his bank account and assets, divided between Paris, Monaco and Louveciennes, to eight close relatives, as stated in his will.
They include the designer’s beloved model, Baptiste Giabiconi, who will receive 30% of the fortune; his bodyguard, Sébastien Jondeau; Sophie de Langlade and Caroline Lebar, two of his most loyal collaborators; the model and father of his godson, Brad Koenig; Amanda Harlech, a fashion author; and Virginie Viard, former artistic director of Chanel and the designer’s right-hand woman for many years. And let’s not forget Françoise Caçotte, the former governess of Karl Lagerfeld’s cat Choupette, who inherits a house and a certain sum to look after the animal until his death.
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Capital frozen for years
However, Karl Lagerfeld’s fortune was not returned directly to his heirs. For the past five years, the heirs have had to deal with the designer’s tax debts, correlated with financial arrangements attributed to his former accountant Lucien Frydlender. The French tax authorities claimed no less than €20 million in penalties and fines. For years, the heirs were unable to agree on how to pay this sum.
Those days of negotiation and reflection now seem to be over. According to information from the specialist media Glitz.paris, the heirs stopped disputing these debts this summer and have decided to pay them. They will be able to receive funds in accordance with Karl Lagerfeld’s wishes as set out in his will.
Karl Lagerfeld, a legacy of fashion
Born into a wealthy family in Germany in 1933, Karl Lagerfeld is one of the most renowned couturiers of his generation, having had an impact on fashion beyond the catwalk. After moving to Paris, the budding young designer won first prize in the ‘International Wool Secretariat’ competition for his design in the coats category. Yves Saint Laurent, both friend and rival, won the prize for evening dress, the most prestigious category.
After working as Pierre Balmain’s assistant for several years from 1955, he was appointed artistic director of Jean Patou in 1959. He also worked at Chloé, where he introduced ready-to-wear and accessories with flair. From 1965 until his death, he also worked at Fendi, where he created the famous logo.
Apart from his decades-long collaboration with the Italian fashion house, his career at Chanel is undoubtedly the most iconic. In 1983, at a time when the House was losing momentum and no longer at the forefront of the fashion scene, Karl Lagerfeld accepted the position of Artistic Director. For years, he revolutionised the Chanel style without ever altering the DNA imagined by Coco herself. At the same time, he created his eponymous brand.
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Far from the lavish evenings adored by his companion Jacques de Bascher, who died in 1989, Karl Lagerfeld was a UFO in this period of fashion effervescence. It was a contrarian vision that followed him throughout his life, as demonstrated by his collection for the fast-fashion chain H&M.
Photographer and interior designer, literary scholar, art collector… It’s hard to list all the activities of this inveterate worker. Discreet about his private life but outspoken, Karl Lagerfeld forged a veritable persona, as if to protect himself, still adored despite the controversy.
The great couturier, who died in 2019, was at the heart of the Becoming Karl Lagerfeld series broadcast on Disney+ and was celebrated in numerous exhibitions. He remains one of the most influential designers of recent decades.
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