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Madonna close to signing scent deal

Madonna has a good nose for a new deal - the superstar is in talks to launch her first fragrance.

The Material Girl is conducting "serious discussions" with perfume giant Coty, according to WWD.com.

If a deal is struck, Madonna will follow in the footsteps of Beyonce and Jennifer Lopez and release a perfume through the company.

Lady Gaga also has a fragrance coming out under the Coty banner next year (12).

This won't be Madonna's first foray into cosmetics - her Material Girl line, aimed at the teen market, launched nail polish, lip gloss, body sprays and lotions last month (Aug11).