Mary-Kate and Ashley Olsen Build $1 Billion Fashion Empire

The Olsen twins' company, Dualstar, includes the popular Olsenboye, Elizabeth and James and The Row lines.

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Olsen twins' fashion empire hits $1 billion in retail salesCelebrity actresses Mary-Kate and Ashley Olsen have built a fashion empire that's now worth $1 billion, according to a recent report in US Weekly. The twins are the head designers at their company Dualstar (they became sole owners in 2004), which puts out three separate clothing lines ranging from the high-end to the more affordable. The labels include Olsenboye, their juniors' line designed to reach the mass market and sold in partnership with JCPenney; their mid-market contemporary brand, Elizabeth and James; and their high-end line that is turning heads in the fashion world this year, called The Row. The 24-year-old sisters are profiled in the April issue of Vogue, where they discuss their growing business aspirations and their quest in the last year to create credibility around The Row. In the feature, Vogue calls The Row's spring line "impressively wearable."

As with their acting career, the Olsen twins got their start in fashion design quite young -- they had a line out at Walmart at age 12. According to the Vogue article, since their entertainment company Dualstar formed when they were 6, the twins have been heavily involved in the designing process. They also recently snagged a nomination from the Council of Fashion Designers of America for their womenswear collection, alongside established designers Joseph Altuzarra and Prabal Gurung. Now that they've hit retail sales of $1 billion, the twins told Vogue they plan to focus on their business full time, with acting taking more of a backseat. "I want to run a studio," Ashley said. "I'd probably like to manage other people on their brands. It could be an artist. A young designer. It could be an existing brand."

Tags: Ashley Olsen, Dualstar, Elizabeth and James, Mary-Kate Olsen, News, Olsen twin designers, Olsen twins, Olsen twins billionaires, Olsen twins revenues, Olsenboye, Show Business, The Row

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