Mary-Kate and Ashley Olsen Launch Elizabeth and James For the Poor

Super skinny beauties Mary-Kate and Ashley Olsen will launch Elizabeth and James, a contemporary sportswear line this fall reports WWD

Named after the Olsens' younger sister, Elizabeth, and older brother, James, the line sees the Olsens girls teaming up with L'Koral Industries, a Vernon, Calif.-based firm owned by partners Peter Koral and Jane Siskin.

"We wanted it to be based on a relationship between a young girl and a boy and tell the story through the clothing."

"It's a clash between masculinity and femininity," Ashley added.

Mary-Kate and Ashley Olsen sees a woman "early 20s, figuring out life and just experimenting," wearing Elizabeth and James. "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."

Mary-Kate said they approached Siskin a year ago to become a partner in the label, which she hopes will fill "a void in the market that we thought we could definitely excel in."

Siskin said when she met with the girls, they seemed to be on the same page almost immediately.

"It was at the same time that we were thinking of launching another contemporary line at Koral, so the timing was perfect," Siskin said. "Since our meeting, the development of the line has really been a natural process and we all work together so well. The girls are all about detail, where I see the big picture, so it's a nice combination."

Elizabeth and James is intended for a woman who wants a designer garment but cannot afford it, she said.

"It's a sophisticated, but a smart, shopper. It's someone who understands the design aspects of fashion [and] the designer product, but also doesn't want to pay designer prices," Ashley said.

Ashley said Elizabeth and James will launch domestically with four collections for spring, fall, holiday and resort in limited distribution.

"A lot of [retailers] were very interested," she said. "We were just interested in going into business with someone who wanted to be partners and grow the brand and brand awareness."