How does TomKat sound as a label? The name has a nice ring to it, doesn't it? Well, somehow we doubt that the line will actually be called that, but Tom Cruise and Katie Holmes may be shopping around for a designer to help them get a fashion project off the ground -- and no, we're not talking about designing jeans here.

Katie and Tom have supposedly been approaching big names, such as Richard Prince, who rejected their idea, about a collaboration.

We're not so sure if this line is a good idea -- not just because the economy isn't exactly ripe and primed for yet another celeb clothing line -- but because of the disaster that Katie and her stylist codesigned and rolled out for her last red carpet appearance? It was an absolute Stylefoul!

Suri, on the other hand, is one of the best dressed tots in the biz. Maybe Katie should consider starting a children's clothing brand instead!

Via Fashionista.