Olsen Twins' New Line - Elizabeth & James Collection

Like many other celebrities, including Paris Hilton, Lauren Conrad and Penelope Cruz, the Olsen sisters are now launching their own contemporary sportswear line. Even though the 21-year-old fraternal twins already have their exclusive clothing collection for Wal-Mart as well as a beauty line, their newest addition to their empire, the Elizabeth and James collection “is intended for a woman who wants a designer garment but cannot afford it,” Ashley told WomenWear Daily. “It’s a sophisticated woman with a playful side and is still chic. It’s someone who understands fashion and understands details and expects that as well. It’s [for] someone who understands the design aspects of fashion [and] the designer product, but also doesn’t want to pay designer prices.” The result is a line with a balance between casual and dressy as well as some vintage inspired looks that create its uniqueness. There are leather jackets, shrunken T-shirts as well as oversize T-shirts, silk dresses, sequin minidress, pencil skirts, cashmere sweaters and coats. Named after their two non-famous siblings, Elizabeth and James is a 25-piece collection with prices ranging from $90 for a t-shirt to $375 for a jacket to $450-$550 for dresses, with a cashmere coat topping out at $995. The line is currently selling at Neiman Marcus, Bergdorf Goodman, Intermix and other high-end specialty shops.