German fashion designer Karl Lagerfeld is to expand into the hospitality industry with the creation of the new Karl Lagerfeld Hotels & Resorts brand.
After signing a long-term agreement with Brandmark Collective, the designer is to open hotels, restaurants, private clubs and residential properties in 'gateway markets and resort destinations worldwide', reports Bighospitality.co.uk.
Lagerfeld's first property, a six-star hotel, is to open in China later next year, with a spokesperson for the brand adding that the UK would be a key target and that it would seek 'first and second-tier city and resort destinations'.
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"Expanding our brand into the hospitality sector reflects our greater vision to broaden Karl Lagerfeld's comprehensive lifestyle experience. Developing the Karl Lagerfeld six-star hotel in Macau has been an exciting process for our whole team, and we look forward to further expanding in this field," said Pier Paolo Righi, CEO and president of Karl Lagerfeld.