Earlier today it was reported that Suri Cruise, daughter of actors Tom Cruise and Katie Holmes, had secured a deal for a fashion line with help from her mom. This deal is valued at £1.5 million ($2.3 million) and the upcoming line, after much deliberation, has been creatively named "Suri."

The seven-year-old and rising fashionista, regularly topping lists of most stylish celebrity children, will launch her first collection for young girls this autumn in a New York department store; if successful, you can expect to see Suri brand clothes all across North America in the next year. 

"Suri is only seven but she is incredibly interested in clothes," A source says. "She has been through a very difficult year and adapted amazingly to her new life in New York, including the upheaval of starting normal school.

Always fashion conscious, Suri is reported to have already amassed a shoe collection worth £100,000 by the time she was 5. 

"This is a really nice hobby for her," according to another source.  "It's certainly not going to take over her life. Most girls dream of being able to make their own clothes, this just means her drawings will now become a reality."

Though this seems to be more than just a hobby; initially Suri was going to start her own fashion blog, but the idea developed organically for her own line after talking about special designs for her own clothes. Clearly, we are looking at a seven-year-old who knows what she wants and is taking the steps to move from coloring books to couture.

Sources say that Holmes, along with her stylist Jeanne Yang, are channeling their inner stage mother as they are both on board with Suri in this endeavor. The two already have their own high-end fashion label, Holmes & Yang.

Suri's line is set to consist of dresses, tops, jeans, and accessories; whether or not she is looking to eventually break into boys clothes is yet to be determined. 

Suri was not the first female celebrity this week to announce that she would be starting her own fashion line, as Amanda Bynes had told Touch magazine that she would be doing so as well. 

It has yet to be determined if the two are currently in a feud, but with these recent developments it would be interesting to see if these aspiring fashion moguls might one day launch a joint line.