Despite contrary reports, Katie Holmes' spokesperson has confirmed to Vogue UK that rumors about Suri Cruise's clothing line are "100 per cent" false.

The Sun reported that Tom Cruise and Holmes' daughter had signed a $2.5 million deal to launch her very own fashion brand.

Aptly named Suri, the collection for young girls supposedly included dresses, tops, jeans, shoes, and accessories. The report said that the line would be sold in a New York City department store beginning this fall. If everything went well, the line was supposed to be carried in various locations across North America by next year and could ultimately grow to include a collection for boys.

Suri was allegedly initially in talks to start her own fashion blog, but decided to pursue a clothing line instead because she had a clear vision for "specific designs." Holmes and her former stylist Jeanne Yang, who launched their own clothing line last year, were supposed to lend a hand.

"This is a nice hobby for her, it's certainly not going to take over her life," a source told The Sun. "Most girls dream of being able to make their own clothes, this just means her drawings will now become a reality. It'll be interesting to see how it pans out, there's nothing around quite like it."

Katie and Suri made a mad dash for their chauffeured car after ballet class in NYC, on Saturday.

Suri was a pink princess in pink-soled Crewcuts boots, with a pink and lavender dress, a pink ballet sweater, bun warmer and bag.

Katie, meanwhile, carried a black Working Two-Tone Bag from her label's partnership with Valextra. The Holmes & Yang collection for the luxury Italian leathergoods brand is producing the new must-have bags -- for $4350 a pop!

Not pictured here ... Tom Cruise, of course. He's filming his upcoming movie All You Need Is Kill in London and keeping his distance from Katie and Suri. A recent report claimed Tom was dating Cameron Diaz, with whom he co-starred in Vanilla Sky in 2001 and Knight and Day in 2010. Cruise's rep, however, denied the reports, stating simply, "It's false. They are friends."

Katie Holmes took Suri to check out the basketball court at Chelsea Piers today in NYC. The 6-year-old already takes gymnastics lessons at the Piers; could she be signing up for hoops as well?!

It was recently reported that in her parents' divorce, little Miss Cruise will inherit a sizable trust fund, some of which she'll have access to when she turns 18. It's "sizable," according to a source, so she "won't be able to fully legally claim it until she is in her 30s," reports claim.

Katie's supposedly getting $40,000/month in child support -- part of which will pay her $40,000/year school tuition. We're getting the rest will go toward cute dresses and kiddie heels :)



Katie Holmes is keeping Suri active amid all the divorce drama ...

Katie's divorce from Tom Cruise was finalized this week, making it one of the quickest turnarounds in Hollywood celebrity split history.

Meanwhile, the separation has got to be taking its toll on only child Suri. It appears Katie's keeping her daughter active and social, but encouraging her to meet new kids at the park and to integrate with other boys and girls her age. Suri has long been somewhat isolated by being out of school and with private tutors, taking private ballet lessons and staying unusually close to her mother.

Suri did make a friend today at the park -- the two rode the slide, compared notes about their bicycles ... hey, they were probably even discussing the Lance Armstrong debate! But whatever the girls talked about, little Suri looked as happy as we've seen her in a while ... until it was time to go!

Katie Holmes took daughter Suri to Make Meaning, an arts and crafts workspace for kids in NYC, on Monday. Afterward, the girls did what any self-respecting girls would do after a hard day of work ... they hit up the bakery!

Katie has been showering Suri with clothes, dolls and luxury outings since the announcement she was leaving Tom Cruise. Divorce guilt, maybe?

Suri Cruise has been enrolled at an exclusive "world" school, according to Life & Style.

The school, called Avenues, costs a reported $40K per year.

A source told L&S:

"Katie has eagerly been telling Suri all about the lunchrooms, basketball courts and different activities Avenues offers. Suri's really excited about it."

The school, nicknamed the "The World School," is described as the following: "Students will become comfortable with a variety of life skills, including practical matters such as time management and technological competency."

Campuses are planned to open in India, Africa, China, Australia and Europe.

It's the happiest place on Earth!

Tom Cruise put the divorce drama behind him to enjoy more "deep and meaningful contact" with his daughter Suri at Disney World on Monday, and happy pair were all smiles on their family day at the theme park! The fashionable 6-year-old was dressed as Ariel from The Little Mermaid as she strolled through the Magic Kingdom hand-in-hand with her action star dad.

"She was walking around like she owned the place, having the time of her life, and Tom, who looked really handsome was talking to her, was really engaging with her," onlooker Marianne Cohen told People.

Twitter user Alex Feoli even managed to snap this pic of the adorable duo!

Katie Holmes is probably back in New York making calls to every hip children's venue trying to figure out how to top this day of excitement!

Katie Holmes isn't letting her divorce plans get in the way of spending time with her 6-year-old daughter Suri.

Tom Cruise's soon-to-be ex watched as Suri enjoyed an afternoon of gymnastics at Chelsea Piers in New York.

In her divorce settlement with Cruise, Holmes will have primary custody of Suri. As for Cruise, he will be allowed a "meaningful relationship" with his daughter.