Lagerfeld likely will join Lauren in dressing the incoming First Lady.
Under ceo Fabian Garcia, Revlon plans to grow into a $5 billion company in five years.
The retailer is unveiling its collections with Inès de la Fressange and Nigo alongside the presentation of its main spring lineup in Paris on Wednesday.
Roughly 800 art world and business luminaries traveled celebrated the opening of the contemporary museum, including Eva Longoria and Will Ferrell.
There were two royals in attendance: Kim Kardashian, the queen of the American celebrity tabloid, and Queen Sofia of Spain herself.
Barry Diller heaped praise on his wife for her generosity at the fund-raising gala on Monday evening at Cipriani Wall Street in Manhattan.