Media Bistro is reporting that iconic designer Karl Lagerfeld is developing a fashion line for Macy’s. This would be an affordably priced ready-to-wear line that will range from jeans to gowns. It will launch in the fall of 2011.

A move like this has been expected after Lagerfeld elected not to show his signature line at the recent Paris Fashion Week.

For Macy’s, it reinforces its strategy of exclusive deals with top names, such as the recent launch of Madonna’s Material Girl line.