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Madonna launching global fashion brand

Madonna is hoping to channel her chart success into a global brand.

The pop superstar is one of the most famous women on the planet, but she has refused to capitalise on her name through clothing, fragrances and accessories - until now.

Madonna launched teen line Material Girl with daughter Lourdes last year (10), and now she has announced plans to create a business empire called Truth or Dare - the name of her candid 1991 documentary.

The brand will incorporate fashion, scents, handbags and lingerie and it is set to hit stores across the U.S. and then the world next year (12).

Madonna says, "Over the past several decades, I have been approached countless times to create my own brand. The timing is right."