It is a big time over at the house of Versace right now! Firstly, Lady Gaga chose the label as the only costume she wears in her latest music video, now Donatella Versace has announced she will be creating a diffusion line for H&M!

She joins a growing rank of designers including Alber Elbaz from Lanvin, Stella McCartney and Karl Lagerfeld in collaborating with the Swedish retailer. She is now set to launch a womenswear, menswear and homeware range for H&M which will go on sale on 17th November, followed by a pre-spring collection which will be available online from 19th January.

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Despite the excitement, it seems Donatella wasn't too keen about doing a diffusion line all that long ago. Back in 2008, she told NY Magazine that while she respected everyone who has done it, it wasn't for her.

"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," she said.

What do you think of this news? Are you excited about a Versace for H&M line? Let me know your thoughts in our comments section below.