A subsidiary of Iconix has picked a subsidiary of The Aldo Group to develop and produce a special collection of shoes, called Truth or Dare by Madonna, targeting stylish women aged 27 to 50 and evoking he dichotomy of Madonna as a powerful icon and feminine beauty.

Comprising flats, heels and boots retailing at prices from $89 to $349 a pair, the collection will be sold initially from next August at Nordstrom and Macy's in the U.S.; at Selfridges and ASOS.com in the U.K.; and at The Hudson's Bay Company, Little Burgundy and Capezio in Canada. It will be subsequently rolled out to selected accounts, expanding globally in 2013.

Truth or Dare by Madonna is the second brand launched by MG Icon, the joint venture of Iconix Brand Group, Madonna and Guy Oseary. Its creative consultant is Arianne Phillips, who worked with the singer on her film “W.E.”

The deal was struck between MG Icon and Aldo Product Services, which is the wholesale division of the Canadian-based Aldo Group. The group has 1,600 licensed stores in 72 countries, but they will not be selling the Truth or Dare line.

This is the Aldo's first license of this kind, and its first partnership with Iconix. Aldo Product Services has been led by Nicholas Martire, general manager, for about two years. He was previously the managing director of Elan Polo Europe.