Designer Dresses For Less

What Chanel's Lagerfeld aims to sell for a song

Thanks to Karl Lagerfeld, things just got a little bit sweeter for shoppers with champagne tastes and a beer budget. Lagerfeld is the latest prestige designer to join the hot "masstige" trend, in which brand names like Isaac Mizrahi and Todd Oldham dream up affordable products for mass-market chains like Target. Lagerfeld, 65--the design genius behind Chanel, Fendi and his own Lagerfeld Gallery line--is hooking up with Swedish retailer Hennes & Mauritz (H&M).

The 30-piece "Lagerfeld for H&M" collection, a one-time deal, will hit the racks at 800 H&M stores in 19 countries in mid-November. The line will include such basics...

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