All hail H&M! A firm favourite of stylish bargain-hunters, it’s also brought us a decade of affordable designer attire via its celebrated collaborations.

Back in 2004, Karl Lagerfeld got the ball rolling – and since then the likes of Versace, Roberto Cavalli, and Matthew Williamson have all paired-up with the high-street outlet. Last year, Alexander Wang’s sporty offering arrived in stores, predictably sending shoppers into a frenzy.

And H&M this morning was able to confirm that its autumn designer collaboration will be with the Parisian house of Balmain. Hurrah!

We even already have an idea of what the collection will entail – via Kendall Jenner and Jourdan Dunn, who appeared at the Billboard Music Awards in Las Vegas last night donning sneak-peak pieces.

The models were there alongside Balmain’s creative director Olivier Rousteing, the 28-year-old who has since his arrival in 2011 nurtured the fashion house into a global pop-culture phenomenon.

Kendall wore a statement black blazer with white beading detail – very much Olivier’s signature style. Meanwhile, Jourdan opted for a military-feel navy top, similar versions of which have been spotted on the likes of Kim Kardashian. She completed the outfit with a red ruffle skirt and chunky metallic waist belt. Both had on a pair of thigh-high suede boots too.

Celebrity fans of the high-end label include Rosie Huntington Whiteley, Miley Cyrus, and Kim Kardashian.

“I want to talk to my generation − this is my main aim as a designer. H&M allows me the unique possibility of bringing everyone into the world of Balmain,” the designer said today in response to the announcement.

“The collaboration felt extremely natural to me as H&M is a brand that everybody connects to. It calls for unity, and I am all for it,” he added.

“We are excited to have Balmain as our guest designer at H&M,” the clothing company also said in a statement. “With its mix of couture spirit and streetwear attitude, Balmain owns a unique style; opulent and direct, sensual and energetic.”

Balmain is known for its sky-high prices: simple blazers come in at around €1,500, sandals are similarly priced, while a leather embellished mini dress from this season is a cool €8,500.

Although price-points for the forthcoming collaboration have yet to be released, last Novemeber the Alexander Wang collection ranged from €15 for over-the-knee socks, and €30 for a tank top, to €200 for footwear, and €350 for a metallic down jacket.

Available from November 5, in around 250 stores worldwide and online at hm.com, the Balmain collection will feature clothing and accessories for both ladies and men.