The cause of death for Chanel's creative director is not yet known, but reports suggest Lagerfeld had been "weak for many weeks."
A statement from The House of Karl Lagerfeld sent to INSIDER confirmed he died on Tuesday morning in Paris.
He died in hospital after being urgently admitted on Monday night, according to French news site Pure People.
Besides his creative vision, Lagerfeld will be remembered for his zingy often controversial one-liners and, of course, his iconic high-collared white shirts, each with enough starch to stand of their own accord.
Lagerfeld's shirts, teamed with a black tailored jacket, wide black tie with tie pin, fingerless gloves, and shock-white hair formed an iconic look that was as instantly recognisable as a superhero's costume.
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"Mr Lagerfeld had a long-standing relationship with Hilditch & Key," the tailor's CEO Steven Miller wrote in an email to INSIDER.
"He will be sadly missed in the fashion world."
Miller added that 1,000 shirts "was a very conservative estimation," and that Lagerfeld would actually send in hand-drawn designs for his shirts.
He included some of the sketches of the shirts, which offer a fascinating insight into the way Lagerfeld worked.
"He was first introduced to the brand by his uncle at the age of 16," Miller said.
In this sketch, Lagerfeld even includes his own iconic shades and ponytail.
Miller added that the tailors "will miss him greatly."