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Karl Lagerfeld: Luxury still desirable in new markets

15 October 2012 Last updated at 13:53 BST

The fashion designer Karl Lagerfeld has said that the global financial downturn has meant you have to work extra hard to persuade people to part with their hard-earned cash.

He told the BBC's Tanya Beckett that his job is to create desire and envy for his products, and that luxury goods will always have a market.