NEW YORK, NY - JUNE 06: CFDA President Diane von Furstenberg attends the 2011 CFDA Fashion Awards at Alice Tully Hall, Lincoln Center on June 6, 2011 in New York City. (Larry Busacca/GETTY IMAGES)

Diane von Furstenberg, the popular womenswear designer and creator of the iconic wrap dress of the 1970s, is partnering with Gap Kids to create a childrenswear capsule collection for the label. It will be the first time the designer has created a line for children.

WWD reports that the capsule collection for Gap Kids and Baby Gap will be go on sale in March 2012 and will include products for babies and girls from ages two to 14. The collection will be sold at locations in 30 countries. In the past, Gap has partnered with other notable high-end designers including Roland Mouret, Valentino and Stella McCartney.

Art Peck, president of Gap brand North America, described the collection as von Furstenberg’s, “signature approach to print, optimistic color and femininity, mixed with our expertise in great quality premium children’s clothing at accessible prices.”

The collection is good news for Gap, which has been riddled with disappointing sales in the past few years. The company fired creative director and head designer Patrick Robinson earlier in 2011.

Von Furstenberg has had a busy week. As president of the Council of Fashion Designers of America, she co-hosted the awards alongside Anderson Cooper at the organization’s annual CFDA Awards and also released a new fragrance called “Diane,” her first new fragrance in eight years.