1. ITV Report

Chanel's Karl Lagerfeld would like to dress 'perfect' Kate Middleton

We were told he would be at the Saatchi Gallery in Chelsea - where else - between 4 and 6pm. By quarter past 4 he was still "on his way". He was still on his way at quarter to 5 and quarter past.

But this is Karl Lagerfeld, a one man fashion whirlwind, and people wait for him because he's worth it - to steal from another fashion label if I may.

When he arrived (5.45 since you're asking), he had his entourage, his dark shades and gloves - his usual uniform - fashion's most recognisable designer and the man who has steered Chanel for the past 3 decades, helping to make it a brand that is synonymous with high end luxury, one that makes around £2 billion a year (it's difficult to be precise because this fashion label is rare in that it is still privately owned).

Lily Allen was photographed for Karl Lagerfeld's exhibition. Credit: ITV News

Karl Lagerfeld in his 70s is in London - the first time in 5 years on Chanel business - to launch his exhibition of photographs of celebrity friends wearing Chanel's most iconic piece - the little black jacket as designed by Coco Chanel in the early part of the last century and still going strong.

Lagerfeld's models include Sarah Jessica Parker, Lily Allen and Uma Thurman. But he'd really like to dress the Duchess of Cambridge.

Karl Lagerfeld would like to dress Kate Middleton. Credit: Nigel Roddis/PA Wire

"She's beautiful" he told me but it's right that she favours high street fashion in the recession hit times - she shouldn't be a "red Carpet girl" he said, it would not be politically correct right now.

Not that he's decrying high end fashion.It’s doing so well right now he says - today Burberry too announced better than expected sales thanks to its luxury pieces - because such fashion is not needed just desired and people try that much harder to get the things they desire than the things they need.

Sarah Jessica Parker was one of Karl Lagerfeld's models. Credit: ITV News

Add that to the growing number of multi millionaires in the world, and he says it's a boom time for houses like Chanel.

On Monday Chanel will unveil the advert for its next Chanel Number 5 girl - and it's a boy. Brad Pitt to be precise.

Brad Pitt will be the first male face of the Chanel Number 5 campaign. Credit: Dominic Lipinski/PA Archive

For the first time a man will be used to sell the world's most iconic women's fragrance. Where once Nicole Kidman and Keira Knightley did the honours Pitt has been chosen - at a rumoured fee of around £4 million - to be the face of the fragrance.

Although Lagerfeld does not control the perfume side of the Chanel business, he has applauded the move. It's right he says, modern, makes a statement. And that's just the way the flamboyant Karl Lagerfeld likes it.