First her worldwide No. 1 smash hit "Fancy" and now, she is ready to conquer the fashion world - Iggy Azalea will be designing an exclusive shoe collection with renowned footwear designer Steve Madden.

This is actually not the duo's first time collaborating together, as they previously teamed up for a series of concerts in Brooklyn earlier this year. Also, the Australian-born emcee sported the edgy pumps by Steve Madden onstage throughout her 2014 North American tour.

New York Post's Page Six recently reported that Azalea's latest fashion collaboration, which will undoubtedly reflect her sexy and bold taste, is expected to launch in February 2015.

Meanwhile, the blonde rapper unfortunately fell off stage at this year's MTV Video Music Awards pre-show on Aug. 22. She then took to her Instagram account to post a video of the embarrassing moment. "Sorry but it would be a crime not to share this with you all, I know I laughed. #StillFinishedtheSongTho #KeptOnRapping #TheShowMustGoOn," she wrote the following caption.

Later on, Azalea jokingly blamed Jennifer Lopez for the recent fall. "We did a show together... and my microphone wasn't switched on. And I said, 'At least I didn't fall over,'" she told Entertainment Tonight. "And she said, 'It'll happen to you one day.'"

"I invited her to watch that show, and I fell off the stage," she said. "I was like, 'You're bad luck!'"

In addition, while sitting down with J. Lo on MTV's "House of Style," Iggy Azalea claimed that she has something in common with her "Booty" remix collaborator: "We have high-fashion booty in common."