Karl Lagerfeld is set to launch his own hotel chain.

Karl Lagerfeld

Karl Lagerfeld

The 83-year-old fashion designer - who has boasted a successful career at the helm of the fashion industry since the 1950s - is now set to expand on his entrepreneurial skills by launching a new chain of luxurious hotels called own brand called Karl Lagerfeld Hotels and Resorts, which will see the first quarters open next year at the Lisboa Palace Complex in Macau, China, according to Vogue.com.

The creative mastermind is reportedly set to join forces with a local partner in the Lisboa Palace resort to help build and construct the buildings, which will include members clubs, restaurants as well as the apartment building under the licensing agreement with Brandmark Collective.

And Karl's team of creatives are currently in talks to expand the project to become a global phenomenon "around the world."

In a statement about Karl's forthcoming venture, a spokesperson for the Lagerfeld group said: "[It] is in the process of studying other opportunities to open other properties around the world."

The German-born designer's plan to delve into the property market is believed to have stemmed from fellow fashion houses including Armani, Bulgari and Varsace, who have also opened properties under their own titles.

Meanwhile, Karl - who is recognised for his signature sleek up do, black glasses and monochrome coloured style - has revealed he pins his tresses up to sleep, although it is positioned at a lower level for comfort.

Speaking previously about whether he has his locks tied up for bed, the creative director of the luxury fashion house Chanel said: "Yes, I put it a little lower.

"You have to be impeccable - I was always told as a child by my mother that you always have to be impeccable, even when you go to bed."

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