AceShowbiz -

That Gisele Bundchen is teaming up with Dolce & Gabbana to design a range of clothes for the high-end fashion house, it's not true. The arguably highly paid supermodel has dispute rumors on that matter.

In a bid to put the brake on the false D&G collaboration report, the beauty issued a statement through her agency IMG Models. In the statement she said, "I am surprised and flattered by the news that there was a party being planned in honor of a collaboration with Domenico and Stefano. [I am] surprised certainly as no such line is in development."

Bundchen however continued, "They are two of the most talented designers in the world and are in no way in need of my help to complement their collections. I have been so grateful to participate in their campaigns and runway shows and look forward to a continued relationship with them in this capacity."

Report on Bundchen about to design a range of clothes for D&G arose December last year. It was reported at that time that she's been encouraged by close pals Domenico Dolce and Stefano Gabbana to try her hand at the new line.

Described as a "chic and feminine" spring wear line, the so-called Bundchen By Dolce & Gabbana range was rumored to be launched in spring 2008.

And just last month, another bogus report followed. It was claimed that the designers were planning a star-studded party in Rome to celebrate the launch of the collaboration, followed by events in New York, London, Dublin, Paris, Barcelona, and Sao Paulo.

Aside from the false D&G collaboration report, Bundchen herself is currently the face of D&G's perfume "The One" and reportedly earning the label around 75 million pound sterling in sales.