Ashley and Mary-Kate Olsen aren't just actors, they're mini moguls who love fashion. After a line at Wal-Mart, the twins started a high end collection called The Row. Now they're back to their affordable roots -- their newest line, Olsenboye, just hit JCPenney stores nationwide today! The line includes apparel, footwear, and handbags.

And if you want to try your hand at designing like the Olsen twins, now's your chance! Budding designers between the ages of 13 to 21 are invited to design an original apparel item for JCPenney's Olsenboye Design Contest. Enter the contest here between now and March 14, 2010. Mary-Kate and Ashley will select their 15 favorite designs.

The grand prize winner will get a trip to New York City, the chance to meet Mary-Kate and Ashley Olsen, a $1,000 JCPenney style shopping spree, and a chance to have your design included in a future Olsenboye collection. Nine runners up will receive $500 JCPenney gift cards. Finalists will be announced in March, and the winner will be named in April.

Photo: Courtesy of JCPenney