Versace is to collaborate with H&M. The Italian fashion house - headed up by Donatella Versace - has teamed up with the Swedish high street brand to create a collection, which will include menswear, womenswear and homeware.

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

Margareta van den Bosch, creative advisor at H&M - who has masterminded collaborations with Karl Lagerfeld, Stella McCartney, Comme des Garcons and Jimmy Choo in the past - added, "Versace is one of the most important brands of recent times and their collection for H&M will be glamorous and flamboyant - everything Versace stands for. Donatella Versace is sharing with us iconic designs from the archives. This is such a celebratory collaboration and is perfect for the party season."

The collection will go on sale on November 17 and will be followed by a pre-spring collection that will be available online from January 19. The news of the collaboration comes three days after Donatella ruled out a high street diffusion: "I respect everyone who does it. But the reason I didn't do it is because I work very hard to put the Versace line in the luxury section. I think to put the Versace line in H&M would confuse the brand."