Madonna plots a multitude of fashion ventures with new partner Iconix
Madonna, it turns out, is still looking to dress us up in her love. The pop icon has formed a joint venture with brand management firm Iconix to develop an avalanche of fashion projects.
Called MG Icon LLC, the venture will include a juniors line called Material Girl (launching at Macy’s in August) and a co-branded eyewear collection, reports Women's Wear Daily.
Along with creating brands, MG Icon will acquire existing labels and explore Madge-ready opportunities within the portfolio of 21 brands that Iconix and its other joint ventures already own. The joint venture will be 50% owned by Iconix and 50% by Madonna and her longtime manager, Guy Oseary (the "G" in MG).
The Material Girl line will launch in 200 Macy's stores and on macys.com in time for the back-to-school season, Jeff Gennette, chief merchandising officer at Macy’s Inc., told WWD. “We see a huge opportunity for us in this space for a fast-fashion line with great price points. We have not done a lifestyle line in juniors before, and Madonna is a multi-generational icon.”
There's no doubt that Madonna is an icon, and she gets full props from me on being a style icon in the '80s and '90s. But my feeling is that her fashion cachet isn't what it used to be. Remember all that Ed Hardy she wore a couple of years back? And those Louis Vuitton bunny ears? Eesh.
What do you think? Does Madge still have the style credibility to sell us clothes?
Top photo: Madonna attends the Marc Jacobs spring 2010 collection during fashion
week in New York. Credit: Peter Kramer / Associated Press
If ever there was a brand that was meant to be this is it. Madonna has consistantly maintained who she is and want she stands for. Her success to have withstood the test of time is a testimonial to an industry comprised of fickled fans.
As a retail consultant for retailers and brands my advice is simple. Pay attention to detail and have a clear vision of what you want to look like at the store level. I have seen too many retailers kill a celeb brand by not taking the extra step to do it right. This is not about throw it at the wall and watch it stick. Even Madonna needs to follow the basic rules of retailing in order to guarantee success.
The first of many right moves was to join forces with Iconix. They certainly have a track record for successful launches but Beware of Macy's. Having experienced personally the XOXO brand at Macy's Herald Square I can only say their intentions were good, but their execution was just that.
I for one would like to see a red thread sawn into the wrist of every item if possible. You would be doing many a favor.
Jerry Birnbach F.I.S.P.
Partner rddassociatesinc NYC
Posted by: Jerry Birnbach F.I.S.P. | March 15, 2010 at 10:15 AM