You know it’s a good day when you find out Karl Lagerfeld is going to be designing clothes you can actually afford. The luxury designer is third in a collaboration series with Macy’s. We already told you about Kinder Aggugini‘s work with the national retailer, Matthew Williamson is next, and the creme de la creme, monsieur Lagerfeld’s collection will debut Fall 2011. Yes, we have to wait a whole year before his masstiege release. However, I have a feeling Macy’s will hype the design partnership to the max…Artsy videos? “Leaked” photos? Supermodels? We can only imagine how the collab will be marketed. Hopefully the clothes don’t fall short like *cough* Lanvin for H&M.

[Editor Update, July 20, 2011] – According to WWD, the line will be released end up August and “Lagerfeld has reportedly incorporated his signature style into his one-off collection for Macy’s, including some high-collared pieces as well as edgier, rock ’n’ roll looks. All the items will be at Macy’s price points, in the moderate to better range.”