"My concept of ready-to-wear today, at whatever level, is that it has to be as good as the most expensive brand,” said Lagerfeld in 2004 of the H&M deal. “Design is very important, and design is not a question of price anymore.” Meanwhile, the designer clearly remains a fan of fast fashion. “We live in the age of jeans,” Lagerfeld told WWD last month. “It’s funny for a person who has money to buy something inexpensive and it’s great for a person with not so much money to be able to get something by a designer….It’s the new snobbism.”