Looks like not everything the Olsen twins touch turns to gold.

According to WWD, the twins' 7 year old beauty brand called mary-kateandashley is closing. The brand, which was sold primarily at Wal-Mart included fragrances, makeup, and even hair appliances.

But don't rule them out of the beauty game just yet.

Mary-Kate and Ashley's new junior brand of clothing and accessories called Olsenboye will launch in J.C. Penney stores this February, which gives them another outlet to try a beauty line.

Our two cents is that the closing of mary-kateandashley is a smart move.

The brand was very tween-y, which was fine for when the girls were tweens. But they've matured into designer-wearing, red-carpet walking fashion muses and it makes sense that they would want a brand with their name on it to reflect that.

And say what you will about the Olsen twins, but they're nothing if not business savvy!