Karl Lagerfeld premieres Chanel-inspired short film

(CBS/AP) Karl Lagerfeld is taking a break from creating world-famous designs and is bringing his talent to the big screen. Following in the footsteps of predecessor Federico Fellini, Lagerfeld premiered his new artsy short film "The Tale of a Fairy" at Chanel's 2011-12 Cruise show in Paris Monday night.

Pictures: Chanel Cruise Show 2011-12Pictures: Paris Fashion Week 2011

Lagerfeld described the film as a sort of homage to the glamorously wealthy women who snatch up his designs without a second thought about the astronomical prices. The fairy in the film helps aristocrats place winning bets at the roulette tables of Monte Carlo. Majority of the movie is shot in black-and-white and takes place in a French Riviera mansion.

"In the movie, they wear dresses from the [Cruise] collection, so it's kind of a narrative around the kind of women who buy these clothes," Lagerfeld told The Associated Press.

The obvious stars of the film are the gowns the models wear, but the film also includes models Kristen McMenamy and Freja Beha Erichsen. Erichsen plays the "fairy" referenced in the title, and spends much of the film topless.

The film, only 25 minutes long, is still reminiscent of Fellini in many ways, such as its unpredictable energy and decadent glamour. Lagerfeld still has a ways to go before acquiring Fellini status, though. The former film maker won the Palme d'Or in 1960 for his 180-minute film "La Dolce Vita."

Lagerfield has been shooting Chanel's still ads for years, but recently has broken out into the film industry.

Blake Lively, newest Chanel spokesmodel, attended the screening. Lively was last seen wearing a stunning Chanel gown to theMet Costume Galaon May 2, 2011.