As Madonna and Amy Winehouse are the newest celebrities to transition into fashion, the question is asked: Celebrities launching clothing lines – good or bad?

Madonna is joining forces with longtime friends Dolce & Gabbana to launch a series of sunglasses. But the pop icon also just signed a deal with Iconix to release a number of retail efforts under the new company MG Icon. The first of the efforts will be a clothing line, Material Girl, which will hit Macy’s – exclusively – in August. Smart. Right around back-to-school shopping.

UK songbird, Amy Winehouse, is also releasing a clothing line with the help of Fred Perry. The 17 piece collection – consisting of mostly pink and black girly pieces – is set to hit stores in October.

Above R&B singer Mary J. Blige and designer Catherine Malandrino explain their fashion collaboration (FFAWN + Catherine Malandrino) which benefits MJB’s charity.

Sarah Jessica Parker recently became the president and chief creative officer of Halston. The Kardashians just released a collection through trendy retailer, Bebe.

As the recession ensues, more celebrities are getting their feet wet in the fashion arena and attempting to expand their brand. Look, not everybody is Gwen Stefani and Victoria Beckham. I’m just saying. It ain’t for everybody.