If the likes of real estate developer Donald Trump, supermodel Tyra Banks, and even Tommy Hilfiger's teenage daughter can have their own reality shows, then why can't the famous fashion designer himself?

CBS announced today that the network has teamed with fashion guru Tommy Hilfiger to create a new reality series, tentatively titled The Cut, to find America's "fashion trendsetter of tomorrow."

Hosted by Hilfiger himself, The Cut will pit sixteen style-savvy contestants against each other in an attempt to be awarded the chance to design his or her own clothing collection under the Tommy Hilfiger label

In the thirteen episode series that is scheduled to air in mid-season, contestants will need to show their unique sense of style and creativity to prove they have the necessary tools to survive and succeed in the high-stakes fashion industry. Similar to America's Next Top Model, The Apprentice, etc. the contestants will together in a New York SOHO loft while being tasked with real fashion world challenges that will test their talent, business acumen, sales and marketing expertise, resourcefulness and style IQ's. Each week, Hilfiger and his "Style Council," which will consist of guest advisors, will rate the hopefuls on their results and cut one contestant.

"The road to success is not easy to navigate, but with hard work, drive and passion, itís possible to achieve the American dream," said Tommy Hilfiger. "The Cut is going to give someone the opportunity of a lifetime and help that person achieve his or her dreams."

"What will make The Cut special is the involvement of Tommy Hilfiger. Heís a cutting-edge designer who, for the first time, will bring his All-American style to network television and provide a fantastic environment for the participants to realize their artistic dreams and visions," said Nancy Tellem, President, CBS Entertainment. "We believe that this concept, packaged in the popular reality format, will create a program with broad appeal to viewers and numerous opportunities for advertisers."

"A series like The Cut that encompasses the worlds of fashion, art, music and entertainment with a phenomenal brand creator like Tommy Hilfiger represents the next level of reality programming," said Kevin Beggs, President of Programming & Production, Lions Gate Television. "We are thrilled that CBS is our network home and canít wait to get started."

"We created The Cut with Tommy Hilfiger specifically in mind and are delighted to be moving forward on this exciting new series," said executive producer Craig Piligian. "Tommy is an icon to every aspiring fashion designer and each of our contestants is in for an extraordinary experience."

Applications for The Cut are now available on CBS.com.

Tommy Hilfiger launched his first signature menswear collection in 1984 with his updated take on button-down shirts, chinos and other classics, which immediately struck a chord with consumers. From clothing and home collections to fragrances and eyewear, Hilfigerís products now generate approximately $3.5 billion in annual worldwide retail sales. In 2003, Hilfiger's daughter Ally co-starred with best friend Jamie Gleicher in MTV's Rich Girls reality series.

The Cut will be produced by Lions Gate Television in association with Pilgrim Films and Television. Joining Piligian as executive producer is Darren Maddern, who created the series with Piligian. Also executive producing is Peter Connolly, President of Worldwide Marketing for Hilfiger. Alan David, Piligianís manager and partner, and Eli Frankel will serve as co-executive producers.

Craig Piligian was the co-executive producer on Survivor, Survivor: The Australian Outback, and Survivor: Africa. He is the creator and executive producer of American Chopper, American Hotrod and American Casino, among other productions.