Karl Lagerfeld has gone into the business of making money — literally.
The Chanel designer took the label’s brand extension to a new level in Paris today when he unveiled a new five Euro coin that he’s designed for the French Mint. The limited-edition collector’s coin, which features Chanel’s signature quilted pattern on one side and the head of Coco Chanel on the other, was created to commemorate the 125th anniversary of Ms. Chanel’s birthday.
The coin will likely be an added marketing boost to the label at a time when there are movies out marking the event and the designer’s life. (Indeed, the Mint – Le Monnaie de Paris – approached Mr. Lagerfeld about making the coin because it expected Ms. Chanel’s birthday to be a big deal in France this year, said spokeswoman Isabelle de Segonzac.)
Although the coins bear the stamp of Five Euros, they will retail for far more than that — the four gold or silver versions range in price from 45 Euros to 5,900 Euros and will go on sale at the French Mint on Dec. 1. Chanel gets no portion of the proceeds, Ms. de Segonzac said.
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