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Lagerfeld, immediately recognizable in his black suits, white hair in ponytails and sunglbades, was best known for his badociation with Chanel, while delivering collections for LVMH's Fendi and his own eponymous brand.
Rumors that Lagerfeld's state of health would have been offended after missing Chanel's parade in Paris in January.
"We lost a creative genius that helped make Paris the fashion capital of the world and Fendi one of the most innovative Italian houses," said in a statement the president and CEO of LVMH, Bernard Arnault.
"We owe him a lot: his taste and talent are the most exceptional I know."
A true craftsman combining artistic instinct, business acumen and self-esteem, Lagerfeld was known for his visually stunning fashion shows and extravagant outfits.
Born in Hamburg in 1933, Lagerfeld made his debut with designer Pierre Balmain as an apprentice before moving on to Patou and Chloe, then to the Italian brand Fendi. He acquired the status of rock star after his arrival at Chanel in 1983.
He earned the nicknames "Kaiser Karl" and "Fashion Meister".
"We are deeply saddened to learn of the death of Karl Lagerfeld today, and his unparalleled contribution to the fashion industry has changed the way women dress and wear. perceive fashion, "said Caroline Rush, director of the British Fashion Council in a statement.
The online magazine of French celebrities Purepeople said that Lagerfeld died Tuesday morning after being taken to the Neuilly-sur-Seine hospital in the Paris suburbs the night before.
Virginia Viard, Deputy Creative Director of Chanel, will become the head designer of the fashion house after Lagerfeld's death, a source told Chanel.
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