Madonna to launch juniors line at Macy's

New York City Iconix Brand Group said it formed a joint venture with pop icon Madonna to launch fashion brands globally, starting with a juniors collection to be sold at Macy's this August.

The fast-fashion juniors collection, called "Material Girl," will be launched in about 200 Macy's stores and online in time for the back-to-school season.

Madonna and her teenage daughter Lourdes Leon -- in collaboration with Iconix’s in-house fashion department -- designed the collection, the company said.

As part of the direct-to-retail license agreement, Macy's will have the opportunity to launch additional brands in the future with the joint venture, MG Icon.

MG Icon, which will be 50% owned by Iconix and 50% by Madonna and Guy Oseary, her long-time manager, has an exclusive license and services agreement with the singer to use her name for apparel, footwear and other products.

Iconix owns and licenses brands including Candie's, Joe Boxer and Badgley Mischka, and has licenses its products to retailers such as Target Corp., Wal-Mart Stores and Kohl's Corp.

"Our strategy is to introduce brands formed through the joint venture in multiple countries and organically expand worldwide," Iconix CEO Neil Cole said.