Madonna is launching a new fashion line worldwide next year, aimed at women aged 27 through 50, the 53-year-old pop diva and her corporate partner in the venture said Thursday.

"Truth or Dare by Madonna" will initially feature footwear, handbags, intimates, accessories and fragrances, Iconix Brand Group of New York said in a statement.

"Over the past several years, I have been approached countless times to create my own brand," said Madonna in the statement, adding that "the timing is right" to embark on the project.

Iconix said the line -- which takes its name from the US title of a documentary about the singer's 1990 Blonde Ambition tour -- would "showcase the dichotomy that is Madonna, both powerful icon and feminine beauty."

Madonna previously partnered with Iconix last year for a more youthful fashion line, "Material Girl," inspired by her teenage daughter Lourdes and sold only in North America.