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Lagerfeld Unveils his Bear

Never mind the credit crunch: A 1,000 euro, or $1,400, Karl Lagerfeld teddy bear by German maker Steiff found willing buyers at Colette.

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BEAR NECESSITIES: Never mind the credit crunch: A 1,000 euro, or $1,400 at current exchange rates, Karl Lagerfeld teddy bear by German maker Steiff found willing buyers during its unveiling at Colette on Friday. “I bought two, ssssh,” whispered Camille McMillan, a Los Angeles-based design student, who got one of the bears signed by the man himself. “When I saw it I thought that’s the best Christmas present in the world,” said Gareth Pugh, though he won’t be indulging that whim. “Are you kidding us? Do you know how much they are?” he exclaimed while snapping a flock of eager Lagerfeld fans for his blog on Style.com. Lagerfeld, meanwhile, departed with number one of the 2,500 numbered bears, which wear his “uniform” jeans, jacket and tie from the K Karl Lagerfeld collection and his signature black shades from his eyewear line.