The New York City-based designer Alexander Wang is the latest high fashion name to create a capsule collection for the Swedish high street label H&M.

Announced at the Coachella music festival in California this weekend, the Alexander Wang and H&M collection follows last November's Isabel Marant x H&M capsule for women, men and kids.

Wang is of course best known for his namesake label, launched in 2007, and for his role as creative director at Paris-based luxury label Balenciaga (a position he's occupied since November 2012).

It's the first time that an American designer has taken the reins for a capsule collection with H&M.

"I am honored to be a part of H&M's designer collaborations," said Wang. "The work with their team is an exciting, fun process. They are very open to push boundaries and to set a platform for creativity. This will be a great way for a wider audience to experience elements of the Alexander Wang brand and lifestyle."

Previous H&M collaborations include collections with Versace, Marni, Karl Lagerfeld and Stella McCartney. This time around the women's and men's pieces will be available in 250 H&M stores worldwide and online, from November 6, 2014.

Margareta van den Bosch, H&M's creative advisor, said of the project: "Alexander Wang is one of the most important voices in fashion today. He understands exactly what people want to wear and does it with an energy and passion that's infectious. It feels incredible to be collaborating with him this year."

With his popular streetwear-inflected aesthetic, and H&M's affordable price points, we can't wait to see what Wang comes up with.