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Meryl Streep Is In The Midst Of A HUGE Feud With Chanel

A bitter war of words between Academy Award-winner Meryl Streep and Chanel's director Karl Lagerfeld has continued to escalate after the actor refused to accept Lagerfeld's "generic statement of regret".

The furore began last week when the acclaimed designer told Women's Wear Daily that, despite initial conversations with the star, Streep had decided to go with a label that would pay her for wearing their design on the Oscar's red carpet.

When Lagerfeld was called out for his untruth, he issued a statement, again to WWD, saying that he was misunderstood.

"After an informal conversation, I misunderstood that Ms. Streep may have chosen another designer due to remuneration which Ms. Streep's team has confirmed is not the case," he said. "I regret this controversy and wish Ms. Streep well with her 20th Academy Award nomination."

But Streep has since fired back in a no-holds-barred statement printed by PEOPLE.

"In reference to Mr. Lagerfeld’s ‘statement,’ there is no ‘controversy’: Karl Lagerfeld, a prominent designer, defamed me, my stylist, and the illustrious designer whose dress I chose to wear, in an important industry publication," Streep declared.

"That publication printed this defamation, unchecked. Subsequently, the story was picked up globally, and continues, globally, to overwhelm my appearance at the Oscars, on the occasion of my record breaking 20th nomination, and to eclipse this honor in the eyes of the media, my colleagues and the audience.

"I do not take this lightly, and Mr. Lagerfeld’s generic ‘statement’ of regret for this ‘controversy’ was not an apology. He lied, they printed the lie, and I am still waiting."

Shots. Fired.

We can't imagine this will be the end of THIS particular Hollywood drama; who has the popcorn?

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