Mary-Kate, Ashley Olsen: Officially Billionaires

Mary-Kate Olsen, Ashley Olsen: INFDaily.com

The "Full House" twins' quality makes the grade.

A new report's just out to reveal that 24-year-old Mary-Kate and Ashley Olsen are celebrating what's now a billion-dollar fashion empire. Why are we surprised that fashion industry pros are giving the Olsen kids such kudos? Their accomplishments truly are impressive -- even Michelle Obama is a fan.

Mary-Kate and Ashley Olsen are a refreshing take on what can happen when child stars grow up. The one-time "Full House" faces produced a franchise of DVDs for kids when they were little, and now they're running a fashion line so fierce that Michelle Obama is a regular of what the Olsens have dubbed "The Row."

Our pals at HollywoodLife.com quote Mary-Kate and Ashley Olsen in a new issue of "Newsweek" saying that they really had to earn their stripes in the fashion world. Ashley said, "With the retailers, we dealt with some tough cookies. Their attitude was, ‘Who do these girls think they are?'"

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Mary-Kate Olsen weighed in, saying, "It definitely took time to earn people's respect."

But the twins say their commitment to producing high-quality American products is what ultimately did the job. "I really believe in our being able to create here and utilize the skills that people have here," said Ashley. "The skill set is here. Our main issue is that some of the machinery is gone, so some knitwear is produced in Italy. But whether it's clothing or cars, I believe in manufacturing as close to home as possible."

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And, we're never going to complain about Italian knitwear! So impressive, considering how many designers import their wares from China and other places were work and goods are cheap. Former Barney's fashion director, Julie Gilhart, says the Olsens also hit the tone of fashion just right: they're not as concerned with making a statement; they're more concerned in creating things that are beautiful. "They really concentrated on product, not fashion so much. Their pieces fit into the trends yet weren't trendy."

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Congratulations, Mary-Kate and Ashley Olsen, and thanks for making clothing we can all be proud to wear.

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