Madonna sunglasses

Madonna now officially rules the world. Photo: Charles Eshelman, FilmMagic.com

She's not called the Material Girl for nothing!

Madonna has been busy negotiating a bevy of deals on all sorts of new fashion products.

For starters, the pop icon has entered into a joint venture with the Iconix Brand Group -- owners of Candie's, Badgley Mischka and Mossimo, to name a few -- to create MG Icon.

And MG Icon has entered into a license agreement to bring the aptly named Material Girl collection of fast fashion for juniors exclusively to Macy's starting in August.

"Madonna wanted to be in the fashion business," Iconix CEO and chairman Neil Cole told StyleList.

He added that the process started moving rapidly when Madonna's daughter Lourdes "Lola" Leon started attending the meetings.

"Lola started telling us what she wanted to do," Cole said. "It was four or five months working with Madonna and her daughter. The dynamic [between them] was just like any strict mother and daughter. I would have expected Lola to have been a wild child, not a 'Mom, can I do this?' kid."

And interestingly, during that time period, the duo went to and from the Iconix Garment District offices largely unnoticed.

"She doesn't have giant security guards, buries herself in stuff like huge hats and is not noticed. She's just this little woman who does her thing -- it's surprising," he told us.

The Material Girl collection was inspired and designed by Madonna, Lola, and the Iconix in-house fashion department.

It will launch in about 200 Macy's stores with clothing as well as footwear, handbags and jewelry; priced from $12 to no more than $40. Expect Material Girl beauty items, fragrances and lifestyle products to follow.

As part of the Macy's deal, the department store chain will have the opportunity to launch additional exclusive brands with MG Icon in the future. May we suggest Blonde Ambition hair products, Girlie Show lingerie, or perhaps Ray of Light home furnishings?

If there's an interesting opportunity, Madonna will take it, Cole said. "She never wanted or needed to do a fashion line. This is not about the money. It's about working with Guy and working with her daughter and the challenge. She's really smart, very tasteful and an astute businesswoman."

Read what else Macy's has in store for the spring.