Not only will Lata design the diamond ornaments for well-known brand Adora diamonds but she will also endorse each of the pieces that will be created in her legendary name.
"My fondness for diamonds is well-known. After singing, diamonds are my grand passion," the smiling song diva says.
"I was shopping at Adora one day, when the director Prabir Chatterjee made the suggestion. It sounded like a good idea. I brought out my designs and he seemed to like them."
"After the release function Wednesday, the collection designed and endorsed by me will hit the market. Every piece will carry my signature done by laser imprint."
Speaking of her longstanding love for diamonds, Lata said: "I've been fond of diamonds from childhood. As a child, my father used to design jewellery. But we couldn't afford them.
"He had a keen eye for jewellery and was fond of wearing precious stones. We kids were equally fascinated by jewels. (But) until I became a professional playback singer, I refused to wear jewellery. I had decided I'd wear only diamonds.
"With my first income, I bought gold jewellery for my mother. For myself I got a diamond ring. It was a specially designed diamond and ruby ring with 'LM' on it. I still have that ring. It's one of my most prized possessions.
"From 1949, I became keenly interested in looking at and buying diamonds. My idol and favourite singer K.L. Saigal had a brother who knew diamond merchants very closely. I'd buy a lot of my jewellery through Saigal Saab's brother.
"This way I got to indulge in two of my passions at the same go: I was close to my favourite singer and diamonds," she laughs.
"Over the years I always visited diamond stores in Paris, Tokyo, London and every part of the world and studied how they were designed and made. As they became affordable, I gradually acquired a collection of my own.
"I remember, I once asked my 'rakhi' brother Shivaji Ganesan to get me specially designed diamond bangles from Chennai.
Designing jewellery is my hobby, wearing diamonds my passion. I don't wear too much jewellery. Whenever I do it's got to be diamonds.
Coming to her new line of work, Lata says: "I'm happy to be endorsing a classy line-up. Who doesn't like jewellery? Women love to wear them. Why nowadays, men are as fond of wearing jewels as women!
I'm not just the brand ambassador for this collection. I'm the creator. It's like turning from singing to music composition," she quips, in her inimitable style.