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Karl Lagerfeld Olympics Collection Party at Selfridges Video

Watch: Karl Lagerfeld Fetes His Lighthearted Olympics Collection

Karl Lagerfeld says his Olympics-themed collection, which he unveiled and celebrated with a party at Selfridges in London Tuesday night, is an exercise in laughing at himself.

"The drama of this collection isn't a drama," the designer said. "It's a joke. It's an inspiration. In a way, it's me. So I have to be careful not to get too much into it, because I don't expect everybody to dress like me. That's why I like this collection with the t-shirt to make a joke out of me, because I think I'm a cartoon."

Others at the event took Lagerfeld a little more seriously — Daphne Guinness, Alison Mosshart, and Hilary Alexander attended the event along with a host of celebrities like Rosario Dawson and Harley Viera-Newton.

Naturally, as the collection has an athletic bent, Lagerfeld spoke to approaching design the same way athletes play sports.

"I think inspiration is a muscle, and this muscle has to be used all the time," Lagerfeld said. "The more you do, the more ideas you have. I don't believe in waiting for inspiration on beaches."

A look at the fruit of Lagerfeld's labor — plus interviews with some of his chicest fans — in the video.

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