Karl Lagerfeld is reportedly teaming up with American high street store Macy’s to create a low budget collection, with prices starting at just £30. Yes, you did read that right.

The creations will be available to purchase in store from August 31st this year, as Karl wants to see how well his clothes will sell with such a small price tag attached.

“The collaboration is a kind of test how to do this kind of clothes in that price range. As you know, I love occasional co-branding,” explained Lagerfeld.

“Macy’s is the perfect department store in the US, where everybody can find what they’re looking for without ruining their budget.”

The line itself will consist of 45 limited edition styles, featuring plenty of tweed, statement jackets and printed T-shirts, with variously shaped dresses, from the soft and feminine to the more sculpted and tuxedo-based, reports Vogue UK.

“There’s a contemporary spin on his signature aesthetic, with versatile, easy-to-wear pieces with a modern twist,” said Macy’s group vice president and fashion director, Nicole Fischelis.

“His passion and creative genius are deeply reflected in this collection, highlighting his ever evolving perspective to the fashion customer.”

The Karl Lagerfeld for Macy’s collection will be available in 235 of the chain’s stores and on MACYS.COM.

We’re too excited for words.