Matthew Williamson Spring 2011 runway London Fashion Week bright colors

Models on the Matthew Williamson collection Spring 2011 runway. Photo: Antonio de Moraes Barros Filho, Getty Images

Your closet is about to get a little brighter, ladies, thanks to a new lower-priced line in the works by prints master Matthew Williamson.

Slated to launch next year for Fall 2011, the tentatively titled Muse by Matthew Williamson diffusion line is born out of a licensing agreement between the English designer and the Italy-based Mariella Burani Fashion Group, which will manufacture and distribute the women's wear collection.

"We consider Matthew Williamson one of the most interesting designers in the luxury fashion sphere," reps from MBFG said in a statement.

"His own creative ability, together with the highly identifiable brand DNA of his main line brand has, without any doubt, created an innovative luxury concept in the fashion market, which we now believe is ready for a global diffusion line.

"This agreement establishes a potentially long-term relationship with Matthew Williamson together with the ambitious relaunching program that our consolidated and reorganized fashion house has assumed."

Of course, this isn't Williamson's first time experimenting with lower price points. Back in 2009, he collaborated with H&M on a vibrant fast-fashion capsule collection. And, if that stellar line was any indication, we're all in for a treat.

The CEO of Williamson's label, Joseph Velosa, tells British Vogue the new line will hang along the likes of See by Chloé and Marc by Marc Jacobs.

And, just in time for Williamson's new venture, a Rizzoli tome about the designer, with a foreword by his friend Sienna Miller, has just been released.

In related news, check out Lanvin's collaboration with H&M on an affordable holiday line.