Lee's 'Fabulosity'

But Simmons said it's part of her business strategy. "It's the whole philosophy really behind my brand. Baby Phat is an aspirational lifestyle brand."

"Consumers aspire for a certain thing, especially in hip-hop culture. So even if you can't have necessarily the same car that I have, the same house that I have, you can have certain principles and ideas about what I have for yourself, and I think that's why they're drawn to me," she explained.

And she is quite a draw. The 30-year-old held her last fashion show at New York's famed Radio City Music Hall -- a first.

Still, some say her clothes go beyond sexy to street walker. Simmons disagrees. "If I saw a woman walking the streets in that, I would say, 'Damn, girl, you look good. You got good fashion sense. And somebody ought to pay you a lot of money, tonight! For whatever you're doing. Because you look good!'"

Donatella Meets Martha?

In fact, Kimora's advice is, never listen to the critics. And that appears to be working for her. Last year, clothing conglomerate Kellwood bought Phat Farm and Baby Phat for a reported $140 million. Part of the deal was that Simmons would stay on as Baby Phat's creative director.

"I oversee everything from start to finish on the creative side. The image. How it should look. How it should feel. The persona," she explained.

This fall, Simmons teamed up with fragrance giant Coty to create "Goddess by Baby Phat." At the launch, women shelled out $90 for the scent in order to get Kimora's autograph.

What makes young women scrape together that kind of money for Simmons' products?

Simmons again says it's all about aspirations. "They really want to go home in the Phantom Rolls Royce too, but at this particular moment they cannot. So it satiates them to be able to have that fragrance. That's a piece of that world," she said.

"I'm not teaching the diamonds and the cars and the clothes as a value. I'm talking about ... business, I'm talking about self-confidence," she added.

That brings us to perhaps the main secret of Simmons' success: No matter how big you are -- there is always room to grow. Next year, Kimora comes out with her own line of cosmetics, a home collection, a more expensive clothing line and a how-to guide called "Fabulosity."

So, what's Simmons' goal for herself?

"I think it's my goal, as funny as this sounds, to be like Donatella Versace crossed with Martha Stewart. The Martha Stewart part of it is, sort of all things to everyone. But the Donatella Versace part of it is the over-the-top, the glamorous side of it. So it's sort of like I believe every woman's life should be chock full of glamour and fabulosity."

Generosity is another important part of Simmons' success. Simmons, who supports many charities, said, "The secret to acquiring wealth is to give it away and to share. I think the more that you give, the more that you get."

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