Every designer's dream is to create something so stylish it transcends fashion and becomes a classic: the Gucci loafer, the Burberry trench coat, the Hermes bag. Creating something iconic is only half the battle; it's what comes next that counts--the tweaks that render these things as cool today as they were the year they were created. When Coco Chanel--above, circa 1926--died in 1971, her classic tweed jacket could have died too. She herself had kept the look alive for more than five decades. How much longer a life did a thousand-dollar jacket deserve? Ask Karl Lagerfeld. In the 20 years he...
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