Madonna just signed a giant fashion deal that will enable her to have hands in multiple existing brands as well as start new ones. Along with her manager, Guy Oseary, she forms MG Icon with brand-management firm Iconix, which owns labels like Candie's and Rampage along with stakes in other labels, such as Ed Hardy. Madonna and Guy (the "G" in "MG Icon," which surprisingly doesn't stand for "Material Girl Icon") will own a 50 percent stake in the company while Iconix owns the other half.

This new deal should enable Madonna, whose control-freak tendencies are said to have gotten in the way of fashion and beauty deals in the past, to finally get a fragrance off the ground. She could also endorse labels like Danskin and always-scary Jersey Shore favorite Ed Hardy. But this doesn't just mean she'll wear the stuff: Control freak that she is, "she'd probably be involved in design, photo shoots, everything," says the CEO of Iconix.

But before she can straddle "the Situation" in a music video (Jesus who?), she's rolling out a juniors' lifestyle collection for Macy's, inspired by her 13-year-old daughter Lourdes. The line will start with apparel, footwear, handbags, and jewelry ranging in price from $12 to $40 and will hit stores in time for back-to-school.

Lourdes is heavily involved in the line, and goes to design meetings with Macy's executives, such as chief merchandising officer Jeff Gennette. "Lourdes has an incredible sense of style," he told WWD. No details on what the line will actually look like have been provided. But we're imagining something along the lines of a cross between Rampage, Ed Hardy, Topshop, and Madonna's signature bustiers.

Source: NY Mag