Ah, to be a fly on the wall for their conversations.
Her son Romeo dressed as the iconic Chanel boss for Halloween, so their friendship is certainly stronger than meets the eye.
The mum of four was awarded a Bambi for her contribution to fashion and walked the red carpet wearing, of course, her own design.
"Thank u @KarlLagerfeld for your beautiful words," she wrote, captioning a sweet pic of them embracing on stage. "This award means so much to me x vb"
Victoria has added a new twist on her traditional LBD style, incorporating a sexier edge of late full of cleavage and lace.
Bambi said their awards, which are presented in various categories, pay "homage to the heroes of our time who have touched and inspired us with their actions, talents and vision".
This year's winners also included Miley Cyrus in the International Pop category and Robbie Williams for Entertainment.