Katie Holmes to have clothing label for Giorgio Armani's line

Katie Holmes

Katie Holmes has a new man in her life.

The actress is set to release her own clothing line with fashion powerhouse Giorgio Armani, aptly named Katie Holmes for Armani.

The 29-year-old Mrs. Cruise revealed to the latest issue of OK! Magazine that her first collection will be aimed at the much smaller shoppers: toddlers. Using nearly two-year-old daughter Suri as inspiration, the chic line will be out as soon as Spring 2009. Suri donned a polka dot dress designed by Holmes' last year.

From there, Holmes has a line for older children to hit stores in Fall 2009 and finally a line of women's clothes and handbags for Fall 2010.

The Armanis and Cruises have developed a close friendship, and since first meeting Holmes in Rome three years ago, Giorgio himself has been dressing her. At red carpet events, both Holmes and Cruise often slip into the elegant threads of the designer - they even wore Armani on their wedding day.

And the seasoned designer has taken Holmes under his wing, helping her learn the ways of the fashion world.

All the lines are going to be somewhat budget-friendly, prices comparable to Armani ready-to-wear.