The Material Girl is turning into a conglomerate.
This story first appeared in the November 3, 2011 issue of WWD. Subscribe Today.
Madonna is launching her second overall lifestyle brand, Truth or Dare by Madonna, aimed at an older customer than the more junior, fast-fashion label Material Girl. The architect of the brand is MG Icon — the joint venture between the Iconix Brand Group Inc., Madonna and Guy Oseary.
Neil Cole, chief executive officer of Iconix Brand Group, stated, “The interest and excitement globally for brands developed by Madonna are significant. After the highly successful launch of the junior brand Material Girl, we knew there would be a tremendous demand for a brand that Madonna herself is the face of and that truly captures her essence.”
Madonna noted, “Over the past several years, I have been approached countless times to create my own brand. The timing is right and I have found great partners in Iconix, who can help translate my vision to reality.”
In a follow-up phone interview, Cole added that the venture plans to launch fragrance and accessories lines in 2012.
The first move will be a women’s scent being developed by Coty Inc. WWD first reported on Sept. 14 that Coty was in talks with Madonna about a possible fragrance deal.
Footwear, handbags and intimates are expected to follow.
Material Girl had an exclusive distribution relationship with Macy’s and Cole praised the chain’s performance, adding that he intends to keep giving it exclusives. But the fragrance distribution will go wider in 2013, with a global attack being planned.
The Truth or Dare by Madonna brand will be aimed at the entertainer’s core constituency, women ages 27 to 50, the company said. It will be designed to showcase the duality of her image, a power icon intertwined with feminine beauty.