Caroline Graham of the Daily Mail reported this weekend that the Duchess of Sussex might just be on the verge of signing a massive deal with the famed French couture house ... at least that's the buzz around Hollywood, as she cites her sources as saying in her piece.

Here's how one of the sources puts it ... "There have been rumors for weeks that she's about to sign a deal with Dior which has put the gossip mill into overdrive. If she pulls that off, then no one will remember that her silly little podcast got canceled after one season."

Not just that, but per the report ... MM's management team at WME has apparently been working overtime toward a major rebrand for their Royal client, with one source saying the Spotify news was a surprise to some ... but small potatoes to them based on what's coming.

As far as what sort of partnership this might be ... DM says sources are claiming Dior wants Meghan to be the "face" of the company -- similar to Charlize Theron and Jennifer Lawrence.

Of course, another recognizable face of Dior is none other than Johnny Depp -- but he's heading up the men's fragrance department ... so kinda at arm's length from anything Meg would presumably be involved in. No word on a dollar amount for this would-be signing ... but just for reference, JLaw's Dior deal is said to be around $15M, and JD's was $20M.

Considering how big a name Meghan is ... ya gotta figure hers would be well north of that.

While this news is unconfirmed, it is certainly interesting. The reason being ... Meg actually low-key wears Dior all the freakin' time -- or at the very least, a lot of the time. She's been pictured in Dior outfits several different times over the years ... as has Prince Harry.

The dude was actually rockin' Dior at King Charles' coronation last month -- so perhaps they've been telegraphing something this whole time. The brand makes sense for them.

Now, as far as podcast stuff ... DM also reports other platforms are blowing up Meg's people for a bite at the apple. And, of course, they still have their Netflix deal intact -- although, there've been rumblings that the streaming giant ain't quite happy with that either.

In any case, it sounds like Meg and Harry are far from strapped. They've cleaned up well since leaving the Royal family -- and while some deals are falling through, other doors seem to be opening at the exact same time. We'll see if this Dior thing comes to pass.