Chic fashion designer Rachel Roy will be the latest to have a more affordable version of her wares for sale. Jones Apparel Group Inc., which has a 50% stake in the designer has said that it is launching a contemporary line called Rachel Rachel Roy to be sold at Macy's. The line will debut in August and will be priced at $59 to $299 for sportswear, $79 to $199 for shoes, up to $195 for jewelry, and as much as $109 for handbags. Jones has announced that the will also be lowering the prices on Rachel Roy's luxury label by 15 to 20 percent.

JC Penney was also in the news this week with the announcement that they will be offering a new line of Joseph Abboud clothing called the Joe Joseph Abboud men's clothing collection. JC Penney also recently launched a line with Charlotte Ronson.

Rachel Roy is in the news again, and this time it's not because of the dough that she and husband Damon Dash owe. Roy has teamed up with vodka maker Grey Goose, which commissioned her to exclusively design and create a signature cocktail dress to be worn by the brand's spokesmodels at select Grey Goose-sponsored events across the country. The dresses will be labeled "Rachel Roy exclusively for Grey Goose Vodka." Grey Goose was the official title sponsor of the Rachel Roy Spring 2009 Fashion Presentation earlier this month during New York Fashion Week, and the partnership also will include trunk shows and store openings.

The cocktail dress will resemble a classic silhouette with clean, modern lines. Made of stretch wool for structure and ease of movement, the design will include a feminine draped neckline and an element of fluidity in the back detailing. (See gallery.)

Roy's creation is "derived from the classic heritage and discerning taste of the luxury vodka brand," according to Grey Goose. Roy notes, "In keeping with this tradition, my design matches the timeless fluidity of the little black dress, with a hint of the iconic, signature blue to capture the effortless elegance of this occasion."

In addition to joining with Grey Goose, Roy has jumped on the green bandwagon by designing eco-friendly clothing, which she will continue to selectively incorporate in seasons to come. Roy will donate 100% of the proceeds to Orphan Aid Africa, an organization that aims to help orphans in Ghana.

[Via Grey Goose and BlackVoices.com]

Another big spender joins the celebrity foreclosure follies. This time it's Roc-A-Fella Records company co-founder Damon Dash and his wife, fashion designer Rachel Roy. The high-profile pair could lose two of their Manhattan apartments. Eastern Savings Bank says the couple owe $7.3 million on the properties and were supposed to make hefty monthly payments of $78,500 but haven't done so since January. Dash has a $100,000 federal tax lien on the properties and reportedly owes the city of New York $2 million in back taxes. Damon Dash is allegedly has a $50 million fortune amassed from his hip-hop empire.