While designers have long used Fashion Week to launch any number of licensed products, off brand projects or charity projects, Karl Lagerfeld took time out to draw attention this week to fashion’s current bear necessity. On Friday afternoon, the designer took time to premiere his latest pet project and this season’s most unlikely must-have: the Karl Lagerfeld Teddy Bear. Manufactured by legendary German toymaker Steiff, the Lagerfeld Bear held its own cocktail party at fashion haven Colette. The white plush furred bear is an effigy which bears a more than coincidental resemblance to the Kaiser himself: signature sunglasses, black suit, biker keychain and a studded “KL” belt. No wonder though — the bear was custom styled by Lagerfeld in Chanel’s workshops. Available online or through Neiman-Marcus as a limited 2500 numbered run edition, each bear wears a $1500 pricetag. Cuddly does not come cheap!