lanvin runway fall 2010 oversized coat

A look from the Lanvin Fall 2010 runway during Paris Fashion Week. Photo: Getty Images

Yes, Virginia, there is a Santa Claus -- and it looks like yours truly has been very nice this year.

H&M has confirmed reports that it will collaborate with Lanvin on a limited-edition holiday collection.

(Pause for cartwheel.)

As we reported yesterday, the Swedish retailer -- which recently teamed up with Sonia Rykiel -- wasn't expected to make an official announcement about the collaboration until Sept. 9.

However, a new viral video campaign teasing the identity of its next design partner prompted much speculation about Lanvin's involvement, as quotes in the videos seemed to reference the label's designer Alber Elbaz.

So today, they made it official. Yay!

The collection -- which will include pieces for men and women -- is set to hit 200 H&M stores in the U.S. on Nov. 20 and worldwide on the 23rd. The new lines will be unveiled to the public slated on Nov. 2.

"H&M approached us to collaborate, and see if we could translate the dream we created at Lanvin to a wider audience, not just a dress for less," said Alber Elbaz, artistic director of Lanvin.

"I have said in the past that I would never do a mass-market collection, but what intrigued me was the idea of H&M going luxury rather than Lanvin going public. This has been an exceptional exercise, where two companies at opposite poles can work together because we share the same philosophy of bringing joy and beauty to men and women around the world."

Let us say, thank you for changing your mind Alber!

Meanwhile, footwear designer Brian Atwood is partnering with Jones Apparel Group for an affordable shoe line.