Iconic Australian fashion designer Perri Cutten has passed away aged 73.

The style icon, known for her modern classic aesthetic, died peacefully surrounded by her family on Friday.

Perri launched her fashion label at the age of 31 and eventually opened her first store in Melbourne in 1981.

Her designs have drawn inspiration from style icons like Grace Kelly and Jacqueline Kennedy Onassis.

By 2011, Perri’s designs were available in 32 locations nationwide including Myer and David Jones.

A tribute post was shared to the Perri Cutten Facebook page after the devastating news was announced.

‘We are deeply saddened to hear of the passing of Perri Cutten, an iconic figure in Australian fashion whose name has become synonymous with timeless elegance and sophistication,’ the post read.