Fashion Star will see 12 unknown, aspiring designers compete for a multimillion dollar contract to create a new brand for one of the largest retailers in the US. A judging panel, comprised of yet unnamed designers and retailers, will decide which concepts have promise and viewers will be able to purchase winning designs from each episode. No date was provided for the show's premiere.

"Brands have become expressions of communities and statements of identity… this country is overflowing with incredibly talented designers from all walks of life who are waiting to be discovered," said Paul Telegdy, executive vice president of alternative programming at NBC and Universal Media Studios.

"Who better to host than Elle Macpherson - her impeccable fashion sense and 30 years of experience building her eponymous brand are tremendous assets to the show and the designers," he added. Macpherson, now 48, kicked off her modeling career in the 1980s and has graced the cover of the Sports Illustrated Swimsuit Issue multiple times.

She has since launched a lingerie line, Elle Macpherson Intimates, and created a collection of skin care products. The Aussie beauty is also host and head judge of Britain & Ireland's Next Top Model and has dabbled in acting, appearing in several shows including Friends.