Not only has Karl Lagerfeld designed the latest Coca-Cola Light bottle but he has also shot the ad campaign.

The campaign features Coco Rocha and Baptiste Giabiconi sipping/holding the limited edition aluminum bottle that he designed.

According to WWD – “Lagerfeld has long been a fan of diet cola, and says he prefers to drink it in a delicate crystal goblet to accentuate the taste”

Coca-Coca Light the Lagerfeld way! This favorite drink of women has called upon the genius of Karl Lagerfeld to dress the Coca-Cola light aluminum bottle.

The designer lends his inimitable style and his unmistakable silhouette to the chic lines of the bottle, all in a special limited-edition box, accompanied by a bottle-opener hidden in a drawer.

Assuming this isn’t an April Fools’ joke, the Coca-Cola light box by Karl Lagerfeld will be available from April 24th at colette.

French luxe brand Chanel says that there is currently no plan to replace head designer Karl Lagerfeld.

“KL is Chanel’s creative director and has a long-term contract that is by no means reassessed,” a representative said. “His succession is not on the agenda.”

Rumor, first surfacing last summer, has it that Lanvin’s creative director Alber Elbaz is in talks with Chanel to take over once Karl Lagerfeld, now 76, retires.

Karl Lagerfeld has has just been tapped to receive the Légion d’honneur, the highest decoration in France, on the eve of the latest Chanel fashion show.

Lagerfeld was notified of the honor prior to the fashion show in Paris by French President Nicolas Sarkozy. A date for the official ceremony has yet to be set.

The sketch of a polar bear by Karl Lagerfeld on the invitation to his autumn-winter show for Chanel on Tuesday was already a big hint.

As a howling wind came over the sound system, screens were hoisted up to reveal gigantic ice floes, from which his models emerged enveloped in shaggy furs to keep out the Arctic cold and splashed through puddles of melted ice in knee high yeti boots.

With bouffant platinum blonde hair swept up, they snuggled into floor-sweeping snow white coats quilted like the Chanel signature handbag, with deep black fur hems, cuffs and stole collars.

Designer Karl Lagerfeld has been asked to shoot the 2011 Pirelli Calendar.

Lagerfeld will break out his camera in April for “all of the top girls,” but don’t expect to see any of the beauties rolling in the sand, as with the 2010 calendar.

“I’ll do it in my studio in Paris. It’s too obvious to have a beach setting,” he said.