Lip gloss, you better watch your back.

Chanel is placing their bets that 2010 will be the year that women say hello again to lipstick, as they get set to launch Rouge Coco Hydrating Creme Lip Colour, reports WWD.

The new Rouge Coco collection, which is launching in March, boasts a long-lasting, hydrating formulation, something Chanel hopes will lure lip-gloss addicts away from their beloved wands.

"Women seem to have forgotten how to apply lipstick," Peter Phillips, Chanel's global creative director for makeup, told WWD. "We have a whole generation of lip-gloss girls. Now, there's absolutely nothing wrong with lip-gloss, but there is something so feminine about the act of applying lipstick. I want to make lipstick as easy to apply as lip gloss, and for a long-lasting formula to feel comfortable on the lips."

Rouge Coco, which will retail for $30 a lipstick, will be replacing Chanel's existing Hydrabase line. Each of Rouge Coco's 30 shades are inspired by Coco Chanel's life. Mademoiselle is a soft pink, Camelia, a deep rose and Paris, a bright red, reports the paper.

French actress and Mrs. Johnny Depp, Vanessa Paradis, will star in the Rouge Coco advertising, which was shot by fashion photographer Jean-Baptiste Mondino, reports WWD.

"Rouge Coco is one of the most important launches from the House of Chanel in 2010," John Galantic, Chanel's U.S. president said to WWD.

We can't wait to get our lips on it!