Madonna Launches Fashion Line

Madonna has announced the launch of her fashion line, MG Icon, a joint venture with Iconix and her longtime manager, Guy Oseary.

Iconix is the company behind such lines as Badgley Mischka, Bongo, Candie’s, London Fog and fellow music star Jay-Z’s Roca Wear.

“Joining forces with Iconix to bring my fashion ideas to consumers is very exciting for me,” Madonna said in a statement to Access Hollywood. “I look forward to working closely with Neil [Cole of Iconix] and his team to create and translate my vision and ideas for MG Icon.”

First up, MG Icon will launch a “fast-fashion” junior collection, “Material Girl,” that will be sold exclusively at Macy’s stores in August 2010. The line will range from $12.00 to $40.00 pieces.

“We are excited to announce the first in a series of new brands that will be developed under our partnership with Madonna. ‘Material Girl’ has a powerful retail partner in Macy’s and we look forward to working together to deliver an innovative launch for our consumers,” Neil Cole, CEO and Chairman of Iconix, said in a statement.

MG Icon is also planning to launch a beauty and fragrance line in 2011.

“Madonna is a legend in the world of music, fashion and entertainment and now with her deep involvement in MG Icon we will be able to leverage her vision into consumer products globally,” Cole continued. “Our strategy is to introduce brands formed through the joint venture in multiple countries and organically expand worldwide.”

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