The Pretty Reckless singer recently saw her contract to front the label - which is run by Madonna and her daughter Lourdes - end and has been replaced by the 26-year-old star, but she insists she isn't upset by the move.
She said: "It's fantastic, congratulations to her. She'll have so much fun working with Madonna but just like any other contract it naturally came to a close.
"My deal ended and passing the torch has gone on to another great young woman, I'm excited to see the new photos. It was a great experience working with Madonna, I had so much fun doing it."
Though Taylor admits she didn't spend a great deal of time with Madonna, she was very impressed by the 'Hung Up' hitmaker and 14-year-old Lourdes' fashion talents.
Taylor - who is concentrating on her career as a singer - added exclusively to BANG Showbiz: "We definitely worked very closely on the shoot, I didn't see her too much apart from that except at the launch. They're such great people and such a great family and Lourdes really is incredibly talented, to come up with a fashion line like that is just amazing. It was a great experience."
The Pretty Reckless' album, 'Light Me Up', is available in the UK and the US now and the band will embark on a US tour in support of the record from 11 February.