Create artwork for new clothing label for an established brand

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Brief de Design de Logo
Hello Designers! We have an established women's clothing brand "Meghan Los Angeles." We are creating a new collection of dresses and tops under that same label, but we want to use a different label and logo treatment to signify that these new dresses are part of the "elevated" collection. The logo treatment must retain the same font we currently use for the word "Meghan" and the idea is that the label and logo is clearly recognizable as "Meghan Los Angeles" but the overall treatment looks classier, elevated, elegant, expensive.
I will include several photos to guide you.
1) Current Meghan Los Angeles label - this is the label we are currently using in our apparel (mostly dresses). The new label should be clearly recognizable as this brand and visual treatment, but add elements that make it "elevated."
2) Meghan classic pink label - this was a label that we used many years ago in our apparel. We do not want to re-create this, but it should serve as inspiration for the new design.
3) A sketch that Meghan drew showing what she has in mind for the new label. This is our current thinking, but please be clear that we are open to other designs and want to be "wowed" with ideas you come up with. Having said that, the current thinking is that the label will be square and will incorporate the design outline from the classic pink label, while the entire label is on a white ground. Meghan is thinking to incorporate the gold and pink colors into the outline/border, and not on the ground.
The winner of this contest will be able to clearly understand our thinking, retain the look of the original logo, while creating new elements that are faithful to the older, classic pink design but look modern, elevated and "clean."
The name of the original font is Brandy Script
Texte du logo
Meghan Los Angeles