The German born fashion designer began his career with Chanel in 1983.
Lagerfeld died on February 19, French magazine Closer reports.
Lagerfeld was known for his iconic dark sunglasses, grey ponytail and monochrome outfits.
There is no confirmed cause of death, multiple outlets have reported.
However, the news come several weeks after Lagerfeld missed Chanel’s spring 2019 haute couture show in Paris on January 22, leading to reports that he was in poor health.
In a statement, Chanel announced: “It is with deep sadness that the House of Chanel announces the passing of Karl Lagerfeld, the Creative Director for the Chanel Fashion House since 1983.”
“An extraordinary creative individual, Karl Lagerfeld reinvented the brand’s codes created by Gabrielle Chanel: the Chanel jacket and suit, the little black dress, the precious tweeds, the two-tone shoes, the quilted handbags, the pearls and costume jewelry. Regarding Gabrielle Chanel, he said, ‘My job is not to do what she did, but what she would have done. The good thing about Chanel is it is an idea you can adapt to many things.'”
The brand announced that Virginie Viard, Director of Chanel’s Fashion Creation Studio and Karl Lagerfeld’s closest collaborator for more than 30 years, will succeed Lagerfeld by taking on the creative work for the collections.