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Last month we caught wind of a rumor that Madonna might be designing a line for Macy's. Today we're pleased to announce that the rumor was totally true, and the actual deal is much bigger than we expected. The style icon of style icons formed a joint venture with Iconix Brand Group that looks set to take over the entire world, beginning with Macy's and eyewear.
Madonna's collection for Macy's will be a juniors' line called Material Girl that is looking to launch in August in time for back-to-school shopping. It's targeted at girls ages 13-25 and is inspired by Madonna's 13-year-old daughter, Lourdes. The first Material Girl line will include clothes, shoes, handbags, and jewelry that range in price from $12 to $40. If all goes well, next year's incarnation could include beauty products and perfume.
After that, WWD reports that the new company, MG Icon LLC, "will develop a range of fashion-related business projects, including the creation of new brands, the acquisition of existing labels and the exploration of opportunities within the portfolio of 21 brands that Iconix and its other joint ventures already own," like Ed Hardy or Danskin.
· Madonna, Iconix Form Fashion Joint-Venture [WWD, subscription required]
· Madonna Might Design a Line for Macy's [Racked NY]