Katie Holmes has apparently proven that she knows how to spend money on clothes, so that must mean she’s qualified to design them as well. Right?

A recent issue of OK! magazine reported that Mrs. Tom Cruise was in line to have her own label under the Giorgio Armani name.  The collection, supposedly titled ‘Katie Holmes for Armani’, would have eventually included items for toddlers, kids and women.  It was a story too ridiculous it was probably true.  But surprisingly, it wasn’t.  Or isn’t yet.

According to Holmes’ rep, the designing rumor was just that - a rumor. “Katie Holmes is not designing a children’s clothing line for Giorgio Armani.”  Who knows?  Maybe her rep planted the story in hopes of making it true.  I mean, really—what else does Katie have going on?  She’s already made a mess of her acting career (choosing to come back in Mad Money and not the Batman sequel was not a smart move)—she might as well do something else.