A report published in French weekly news magazine L'Express on Wednesday (06Jan16) suggests French tax authorities are probing his finances amid fears he owes around $22.5 million (£15 million) to the government.

The investigation reportedly concerns two property investment companies and the 7L Bookshop in Paris, France, which Lagerfeld founded in 1999. It houses a photography studio owned by a British-based company, which takes the profits from his photographs.

His spokeswoman Caroline Lebar tells the Associated Press that Lagerfeld's financial advisors are working with tax authorities in a bid to resolve the situation.

Lagerfeld, 82, is also creative director of Fendi and his eponymous fashion label.