NEW YORK — Madonna is getting into the groove with Macy's.
The 51-year-old pop icon is developing a junior collection that will launch exclusively in approximately 200 Macy's stores and online in August, just in time for the back-to-school season.
The fashion deal is the first for MG Icon, a newly formed joint venture between Madonna and Iconix Brand Group, Inc.
The "Material Girl" collection was inspired and designed in collaboration with Madonna and her daughter Lourdes, along with Iconix Brand Group's in-house fashion department. In addition to the back-to-school apparel collection, "Material Girl" will also launch in multiple categories including footwear, handbags and jewelry. The collection will retail from $12 to $40, comparative with pricing strategies at junior specialty stores. The strategy for growth will include additional categories in the lifestyle and beauty sectors, including fragrance, beginning in 2011.
"We believe that 'Material Girl' will be a dynamic exclusive brand for Macy's, and we look forward to working with Madonna, Lourdes and the Iconix team. Madonna is a fashion icon who can bring a new dimension to our juniors customer," said Jeff Gennette, Macy's chief merchandising officer, who added that the line "will enhance the excitement of fast fashion at Macy's."
As part of the direct-to-retail agreement, Macy's will have the opportunity to launch additional brands with MG Icon in the future.
The Iconix Brand Group owns, licenses and markets a growing portfolio of consumer brands including Candie's, Joe Boxer, Danskin and Roca Wear.
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