Kanye West's New Design Company, DONDA

Kanye West took to social networking site Twitter January 5 to announce the details of his new design label, which has been named after his late mother.

"I have started a new company and I'm so excited about the name.... it's got the best name ever of all companies of all time!!! The name of the company is DONDA," wrote the musician.

The rap star spent two hours online offering details on the company, as well as citing his fashion inspirations and musing on his status as a style icon.

West, who premiered his women's fashion label DW at Paris Fashion Week in October, says the new company will "galvanize amazing thinkers," ranging from architects and clothing designers to "tech guys" and doctors.