By Julia Robson

Born to wealthy parents and immense privilege, at the age of four little Karl demanded his own personal valet so that his underwear could be heated before he slipped it on each morning. Well, he did live in a mansion in chilly Hamburg. He moved to Paris as a teenager and worked for several designers before setting up shop backed by family dosh. Not before he had consulted Madame Zereakian - Christian Dior's Turkish fortuneteller - who told him he would find success in fashion and perfume. This outspoken workaholic with a voracious appetite for books recently shed six stone in order to wear Hedi Slimane drainpipes. You could say he was as mad for fashion as it is for him. Or you could say he is simply mad. Although financial wizards behind the privately owned house of Chanel might disagree. There is nothing mad about generating a $500m dollar turnover even if it does mean teaming Coco's twinset and pearls with biker boots, headphones and wellies.