The Olsen twins have long been hailed as extremely savvy entrepreneurs - and no wonder, since they are the proud owners of a blooming fashion empire that includes their successful "Elizabeth and James" contemporary apparel label, in addition to various other fashion and beauty endeavors. However, jewelry design has not been on Mary-Kate and Ashley's agenda so far - an omission the budding fashionistas are apparently keen to correct as soon as possible, as they have reportedly created their own fashion jewelry collection through a licensing partnership with Robert Lee Morris under the brand "Elizabeth and James".

Mary-Kate and Ashley apparently teamed up with Morris after seeing the prestigious designer receive a Lifetime Achievement Award at the CFDA Fashion Awards last year. And they couldn't have picked a better partner to guide their first steps into the world of designer jewelry, as Robert Lee Morris has been working in this business for over 40 years, creating pieces for everyone from Karl Lagerfeld to Donna Karan and Calvin Klein. As a result, the twins' first line of jewelry will debut under the patronage of a reputed designer, which will add credibility to the Olsens' little adventure in today's jewelry land.

Morris and the twins have created upwards of 80 distinct styles for the jewelry line, which has been revealed to include rings, necklaces, cuffs and earrings, all made from silver and antiqued brass with such motifs as snakes, beetles, crosses and daggers. "The symbols are attachable and you can take the jewelry and make it your own. There are solid silver and gold pieces to wear forever and comfort pieces that you'll put on and wear everywhere", Ashley Olsen herself stated in an interview with "Women's Wear Daily". The line will be available at Intermix stores all over the States in September. Prices for the jewelry line range from $65 to $700.