Katie Holmes models her own design on the "Tropic Thunder" red carpet. - Michael Buckner/GettyImages.com
If the reports are to be believed, the dynamic design duo will be coming out with a private "Holmes Yang" label for friends and family only. Of course, I would be remiss if I didn't mention that Katie is also rumored to be designing a public label (as in, we can buy it in stores) for fashion friend Giorgio Armani.
I reached out to the Holmes, Yang, and Armani camps to try and figure this out, and it looks like the world wide web of fashion may have gotten this one right. I just heard back from Katie's rep via email and she's calling the outfit "a collaboration between Katie and her longtime stylist" Yang. She writes the Holmes & Yang line was "created to personalize Katie's look and has grown into a creative and personal endeavor for both." In other words, Katie is too much of a fashion icon to be wearing clothes off-the-rack anymore!
Ooh, one more fun tidbit from Holmes' rep -- the dress was actually a two piece! That leather upper section was just a halter top. The bottom was a leather trimmed skirt. I don't think separates have looked that elegant since that green number Keira Knightley wore in "Atonement."
- Katie Holmes