Lagerfeld defends luxury in time of economic crisis
Fashion legend Karl Lagerfeld on Tuesday came to the defence of luxury in a time of economic crisis, criticising ratings agencies and rejecting a climate of "general gloominess".
Lagerfeld, head designer at Chanel for nearly 30 years, made his comments on the sidelines of a Chanel show at the Grand Palais in Paris.
He defended the fashion industry for its importance to the French economy and as a provider of many jobs.
As for the ratings agencies, the day that Standard and Poor's warned it could downgrade 15 eurozone countries, including France, Lagerfeld quipped: "Who put them in a position to give A's?"
Chanel created for its show the luxurious palace of an Indian maharajah as the backdrop for its "anti-gloom" ready-to-wear collection.
Lagerfeld described the collection as "very elaborate, a lot more expensive than the normal ready-to-wear," evoking the fantasy of India.
For the German-born designer, periods of economic crisis have no influence on creation.
Besides, he added, there was "a lot more panic in 2008 than today."
© 2011 AFP