Following up on its highly successful projects with designers like Lanvin, Karl Lagerfeld and COMME des GARCONS, H&M has just announced that its next designer collaboration will be with the legendary house of Versace. Designed by creative director Donatella Versace, the collection will channel the legacy and heritage of the Italian luxury label by incorporating leather, prints and (of course) a lot of color. The collection, which will include items designed for men, women and home, will be available starting November 17, 2011 at nearly 300 H&M stores worldwide and online. Versace has also agreed to design an exclusive pre-spring collection for H&M that’s expected to launch online on January 19, 2012. Watch the video above to see the official announcement by Donatella Versace.