Isaac Mizrahi and Ashley Olsen weigh in: Are celeb designers legit?

Last night celebrity designer Ashley Olsen, designer Isaac Mizrahi, and Washington Post fashion critic Robin Givhan spoke at the 92nd Street Y about "The Future of Fashion." Glamour editor-in-chief played moderator. Her lead question: "What do you think of celebrities as designers?"

It seems like every famous person has their name attached to something these days with varying degrees of involvement on each

project. Just today it was announced that Nicole Richie will launch a full women's collection in February 2010 priced from $35 to $598 (she already has a maternity line and an accessories line). The line will be called Winter Kate--her daughter's middle names--and will feature mostly tops, vests, and jackets in bright vintage-inspired silk, crepe and chiffon, mirroring her own wardrobe.

"Fashion should be accessible," says Richie. As for her customer, "she is a woman like me: She does not look at labels; she knows how to mix and match. The pieces can be dressed up, made casual, but most importantly, they provide the wearer a means of self-expression and fun." Nicole elaborated on pieces for the lines in an interview with fashion trade paper, Women's Wear Daily, saying, "I purposely made the slip dresses in both solids and prints," Richie said. "Wear the prints by themselves or with a great vest or jacket and wear the solids as basics to an outfit with many layers."

OK, Nicole Richie is a stylish woman who seems to know a good amount about fashion and takes a genuine interest in the products she releases. But what about everyone else? Reese Witherspoon is the latest star to slap her name on a fragrance with In Bloom for Avon.

"In developing In Bloom, I found myself drawn to the scents of my childhood in Tennessee," says Witherspoon. "We had a great big Magnolia tree in the back yard, and it's that beautiful white blossom that inspired the perfume." Does this mean that with the proper help, any famous person can come up with their own fragrance based on some childhood memory? Can we have one, too?

Getting back to that initial question, it's interesting to see how fashion insiders respond, starting with Ashley Olsen, who is one half of a massive enterprise with her twin sister (the duo was recently inducted into the Council of Fashion Designers of America). Read their answers below:

Ashley Olsen: A lot of celebrities get involved because they want to slap their name on it and it will add to their brand. And for us, it was totally different. That wasn't my point. For me, when I look at it as a celebrity brand, it's almost silly to me, because I'm not coming at it from a celebrity standpoint.

Isaac Mizrahi: I think that to be stylish you have to connect to something and love it. And have a place for it in your closet and think about it and wake up and try it on. I mean, that's style. After a while a girl who borrows dresses all the time just can't have style. It's not a collection, it's just "hold on, I need to take pictures tonight." I'm sorry, that's not it. And I'm not judging people, I like it, it's fun. You know, but after a while you wonder if these people actually go to a store and buy something at full price.

Robin Givhan: I can't answer that question because you have no sense that any of them are actually dressing themselves. Their stylists are.

While this expert panel may raise some good questions with their insider insight, it's clear there is no real answer on "good" versus "bad" celebrity designers. And as far as the future of fashion, well, these celebrity collaborations have fared well in shops, so we doubt they're going away anytime soon.

What do you think about celebrity designers? Which ones do you like and think are really invested in their products and which do you think are not? [NY Mag][Nitrolicious][FabSugar][Stylelist]