Lydia and Zhenya Tsvetnenko have reason to celebrate this week.

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Tsvetnenkos welcome their baby
Tsvetnenkos welcome their baby

Lydia and Zhenya Tsvetnenko have reason to celebrate this week - the multi-millionaire power couple welcomed baby daughter Max Alice into the world on Tuesday.

Zhenya revealed to AAA late last year that he and his fashion designer wife were expecting a baby girl - their first child - but they were keeping names quiet.

Lydia was expected to give birth on Australia Day but Zhenya confirmed on his Facebook page that the bub had come a week early.

"Mum and baby are doing great," he wrote.

Despite being heavily pregnant, Lydia was still spotted out and about at various Perth social events.

The couple reportedly have a fortune that is worth nearly $115 million.