Katie Holmes Showing At New York Fashion Week For the First Time; Is She Starting a Fashion Rivalry With Victoria Beckham?

"This is a big deal for Katie to show in the tents, under the full attention of the fashion editors and the glare of the media scrutiny," said a source for the NY Post. "They could have done a small show elsewhere, so this proves she and Jeanne are very serious about their business."

And potentially piling on even more pressure for the big day, Grazia Daily magazine reported that Holmes & Yang is scheduled to show on the very same day (Sept. 9) as Victoria Beckham -- a once-close friend of Holmes' who is rumored to have had a falling out with the actress-turned-designer. The conspicuous scheduling clash has prompted questions about whether Holmes is motivated by an ambition to upstage Beckham, who has been lauded for her fashion efforts (she was recently honored at the closing ceremony of the Olympics when a garment from her self-titled fashion line appeared in the British Fashion Hall of Fame) and has been showing at Fashion Week for several years now.

In December 2011, Holmes confessed to Elle magazine that she and Beckham often consult each other when dressing for important events. "We go to the same events, and we'll call each other to ask, 'What color are you wearing?'" said Holmes. "I'm always interested in what she's liking for the season." But if rumors of their impending fashion standoff are true, they may not be calling each other for advice for anymore.

Other sources, however, have claimed the reports are false. According to Womens Wear Daily, Holmes & Yang set the date for their show weeks ago, and it's scheduled for Sep. 8, the night before Beckham's. New York magazine reporter Charlotte Cowles speculated that Holmes' decision to show at the tents was less a dig at Beckham and more of a calculated attempt to try and get the fashion world to take her career-change more seriously. Cowles suggested that Holmes "wants to prove that her label isn't just some vanity project she works on in between lunching on frites with Suri in the Meatpacking District."

In addition to Holmes' line, the former Mrs. Tom Cruise also has two movies coming up, the romantic comedy "Responsible Adults," with Chace Crawford, and an untitled project directed by Christian Camargo, based on Chekhov's "The Seagull."