A celebrity fashion collection doesn’t have to be an oxymoron (we’re still waiting to see how Lindsay Lohan’s future as artistic advisor to Paris house Ungaro will pan out -- regular readers of All the Rage may recall that it didn't begin well). Mary-Kate and Ashley Olsen’s forays into the rag trade have been met with kudos from the industry. In July, the 23-year-old sisters were inducted into the prestigious Council of Fashion Designers of America, along with Alexander Wang, Jason Wu and J. Crew’s Jenna Lyons, on the basis of their design work on luxury label the Row and the contemporary-priced Elizabeth and James collection. • Now the Olsen twins have set their sights beyond the racks at Barneys and specialty boutiques and targeted the suburban closets of American teens and tweens with their exclusive coll ...

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