Successfully breaking out of the typecasting trap that so often plagues child stars, Mary-Kate and Ashley Olsen have morphed into style icons over the last decade.

Amassing a fashion powerhouse, the Olsens – – who rank No. 7 on Celebuzz’s Hollywood Power Index – have launched multiple lines like Olsenboye for JCPenney, Elizabeth and James, StyleMint and the high-end label The Row, which counts A-list fans like First Lady Michelle Obama.

At 26, the famous sisters have built a billion-dollar empire and found grown-up respectability in the world of high-fashion. In the past year alone, the duo has scored major accolades as designers, including a spot on Forbes’ list of the 30 most influential fashion moguls.

“Running a fashion company, it’s just as important to understand numbers as it is to have a design point of view,” Mary-Kate recently told Newsweek.

The twins empire continues to expand in new directions. Last month, the sisters forayed into the world of art by teaming up with renowned pop artist Damien Hirst to create a $55,000 limited edition crocodile handbag studded with prescription pills for the gallery-boutique Just One Eye.

Next up?

The Olsen’s will expand their retail empire with the debut of a new fragrance collaboration under their Elizabeth and James brand.

So, what do our top experts have to say about the Olsen’s continuing rise to power? Check out the video above to find out.

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