New Lagerfeld line comes to an end

After a much ballyhooed runway debut at the close of New York Fashion Week in February, the Karl Lagerfeld contemporary line has been abruptly axed by parent company Tommy Hilfiger Corp.

The New York-based operation is closing this week, so the fall collection will be the first and the last for the label.

Lagerfeld, who designs for Chanel and Fendi, will continue to develop his higher-end Lagerfeld Collection in Paris.

Over the last few months, the ponytailed fashion icon had been increasing his presence in New York, becoming a regular on the party scene and buying an apartment in Gramercy Park.

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-- Booth Moore