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Russell Simmons Teams with Wal-Mart

Hip-hop icon Russell Simmons has inked a deal to create an affordable clothing line for Wal-Mart.

The co-founder of Def Jam Records, Russell Simmons, will be designing a clothing collection called American Classics, to be sold at 350 Wal-Mart stores.

The collection, which features items ranging in price from $10 to $30, includes tops, jeans sweater vests and sports shoes.

Simmons is no stranger to the fashion world.  In 1992, he founded the brand Phat Farm, and sold his share of the business in 2004 to the Kellwood Company for $140 million.