Versace to design H&M collection

(CBS) - Versace is hopping on the discount retailer bandwagon. The Italian fashion house is creating a collection for Swedish high street chain H&M, to be available this fall.

"I am thrilled to be collaborating with H&M and to have the opportunity of reaching its wide audience," designer Donatella Versace said on Tuesday, according to Vogue. "The collection will be quintessential Versace, perfect for H&M and Versace fans everywhere."

Versace, a consistent celebrity red carpet pick, is just the latest luxury fashion label to join forces with the mass retailer. Past collaborators include Lanvin, Karl Largerfeld, Jimmy Choo, Matthew Williamson, and Stella McCartney.

The collection, which H&M said will be "glamorous and flamboyant," will be available in 300 stores and online in November. It will include the "perfect tuxedo" for men, the AP reports, along with accessories and dresses for women, and homeware products. 

In addition, a pre-spring collection will be exclusively sold in selected countries in January.