The already-crowded arena of celebrity-designers just got even busier: those long-standing rumours that Madonna is set to establish her own fashion label in partnership with brand management firm Iconix have finally been confirmed.
Typically for the musical powerhouse, however, this is no run-of-the-mill, CV-boosting collaborative effort but a full-scale, money-where-the-mouth-is business move. The venture, called MG Icon LLC, will be 50% owned by Iconix and 50% owned by Madonna and Guy Oseary, her long-time business partner (and the "G" of MG Icon). The mission? To launch - and acquire - various fashion-related ventures worldwide.
First out of the stable will be Material Girl, a young fashion collection aimed at 13 to 25-years-olds and for which Her Madgesty's daughter Lourdes has served as muse and sounding board. It will launch exclusively at US department store Macy's in August, with accessible price points ranging from $12 to $40.
"Madonna has been building brands for other companies for a long time. Now, it's time for her to build her own brand," comments Neil Cole, chairman and CEO of Iconix. "There are so many opportunities globally for this joint venture. Madonna sells out arenas around the world, from Scandinavia to South America. Madonna is an international calling card."
For her part, Madonna will be creatively involved in MG Icon's output, as well as endorsing its products. "Joining forces with Iconix to bring my fashion ideas to consumers is very exciting for me," the singer tells industry bible WWD. "I look forward to working closely with Neil and his team to create and translate my vision and ideas for MG Icon."
A joint venture with an established designer label to release a co-branded eyewear collection is close to being announced, the report adds. Watch this space - we have a feeling it's going to be filling up quickly.
Picture: Madonna out and about in New York earlier this year.
iconixbrand.com
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