YESTERDAY morning, H&M announced their latest designer collaboration: Versace. Yup you read it correct!! But last night, at the Versace men’s show in Milan, Donatella gave the world a sneak peek before they knew what they were looking at—the studded leather dress she wore to take a bow is from the Versace for H&M collection, and it was just FAB!!

Us regular folk lol will have to wait until November 19th to get their hands on the collection which includes men’s, women’s and home. The press release promises the collection will “recall the heritage of the brand,” while invoking Gianni’s name and listing “leather, prints, color, and exuberance” among the highlights of what’s to come.

The women’s collection, including heels and costume jewelry, will offer more studded leather as well as colorful silk dresses while men’s will focus on sharp tailoring (including “the perfect tuxedo”). Donatella says, “The collection will be quintessential Versace.”

If Versace’s your favorite, you’re in extra luck–on top of the capsule collection for fall, the designer’s also whipped up a pre-spring collection that will hit online January 19th. That gives you about six months to set up an international mailbox (unless H&M ecommerce arrives Stateside by the end of the year)!

For those curious this is isnt the 1st time H&M has joined forces with a Fashion icon for a more afordable line just in 2010 they hooked up with Lanvin for a great collabo.

Once a complete look of the line is avail you already know i got you on an update stay tuned! [J Medina]