Madonna to launch own fashion line called 'Material Girl'

The collection will be sold at Macy's department stores from this August. Madonna will own 50 percent stake for the fashion line while the other 50 percent will go to MG Iconix.

The fashion line called “Material Girl” has been named after Madonna's early career nickname.

“Joining forces with Iconix to bring my fashion ideas to consumers is very exciting for me,” said Madonna in a press release.

“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,” said Iconix CEO and chairman Neil Cole.

Iconix owns and licenses brands like Candie's, Joe Boxer and Badgley Mischka.

Madonna and daughter design ‘Material Girl’
The 51-year-old singer, along with her daughter Lourdes Leon and MG Iconix, designed the collection.

“Joining forces with Iconix to bring my fashion ideas to consumers is very exciting for me.” –Madonna

Macy's Chief Merchandising Officer Jeffrey Gennette said the line will also include jewelry and other accessories. Prices will range from $12-$ 40.

“We are building this brand to potentially be in every one of (Macy's doors),” said Gennette.

The brand will give strong competition to Jennifer Lopez’s J. Lo brand, which has been a part of Macy’s for years now.

Madonna also plans to add beauty and fragrance options to her junior’s line from 2011.

More on Madonna
Positioned as the most successful female artists of all times, Madonna has been ranked number two, (behind The Beatles), on the ‘Billboard Hot 100 All Time Top Artists.’

Highly influenced by Marilyn Monroe, Madonna remains one of the greatest pop artists of all time. Known as the Queen of Pop, she was inducted into the Rock and Roll Hall of fame in 2008.

Her famous singles include ‘Papa Don’t Preach,’ ‘Frozen,’ ‘Like a Prayer,’ ‘ray of Light,’ and ‘American Pie.’

The Guinness Book of Records called Madonna as the world's highest-earning female singer on earth.