Update: WWD reports that Karl Lagerfeld will indeed partner with Macy's, writing:
Lagerfeld will create a one-off line of limited edition women's fashion that will be sold in about 250 Macy's stores as well as online in September. The collection will be part of a new designer initiative that Macy's will launch next year in which designers create capsule collections for the store's Impulse department. The collections will rotate every two months and will start in February with Kinder Aggugini, a London-based designer who has worked with John Galliano, Vivienne Westwood, Paul Smith, Calvin Klein, Costume National and Versace. Aggugini will produce a line with a rocker-chic aesthetic.
Chairman, President and CEO of Macy's Terry J. Lundgren told WWD, "Karl Lagerfeld holds a unique place in the world of fashion, an icon who is the ultimate modernist. Through the decades, his style and vision have marked the history of design. It is a tremendous honor to bring his inimitable perspective to our fashion customer."
Previously: Karl Lagerfeld is reportedly entering a "fashion venture" with Macy's, according to UnBeige. The site writes:
We hear that the national retailer has inked a deal with the Karl Lagerfeld brand, owned by private equity firm Apax Partners, for an affordably priced ready-to-wear line that will range from jeans to gowns. The new line, slated to launch with a collection for fall 2011, is also expected to include a major online component, with e-commerce as a key distribution channel.
In September, Kaiser Karl canceled his Lagerfeld fashion show, revealing plans to create a "masstige" ready-to-wear collection that would be sold online and available next fall. At the time, Vogue UK said that the line would be more commercial and Lagerfeld would have less direct involvement.
Fashionista was also able to confirm reports of a Karl plus Macy's Kollaboration.