Karl Lagerfeld has broken through the fourth wall (that would be the one where we don't talk about money, and also the one where we don't disparage Meryl Streep) to talk about money and insult Meryl Streep.

In an interview with fashion bible Women's Wear Daily, the outspoken designer claimed that Streep backed out from wearing a customised Chanel dress to the Oscars this weekend because the luxury fashion house would not pay her to wear it.

Meryl Streep has denied the reports. Credit:Jordan Strauss

In typical Lagerfeld fashion he lamented, "A genius actress, but cheapness also, no?"

Streep has since denied the designer's claim, with her management issuing a statement to The Hollywood Reporter saying it is against her personal ethics to accept payment for wearing gowns to red carpet events.