Schiaparelli. Lacroix. Two titans of 20th century fashion will be collaborating on a capsule collection that makes H&M’s latest designer outing look downright bourgeois.

The revival of the house that Schiap built was announced nearly a year ago, on the eve of the Met’s celebrated exhibit “Schiaparelli and Prada: Impossible Conversations.” Now there’s the news that Christian Lacroix would be tapped to helm the new house’s first project, and we’re pretty damned excited. The 15-piece couture collection will be displayed at the original Schiaparelli salon on Paris’ Place Vendôme come July.

In a press release regarding the pairing, Lacroix said: “In this persona incarnating a true aristocrat, one finds a spirit where mathematics and literature as well as poetry coexist: Elsa is a sacred sphinge who never ceases to interrogate us while offering us new enigmas as answers. Art, theater and cinema…my wish is to reposition Elsa at the center of her maison and on the stage from which she once seduced the world.”

There’s still no word as to who will take over the permanent role as creative director at Schiaparelli v.2, but we’re thinking this collaboration is an appropriately momentous beginning.

And while you’re waiting? We’d recommend picking up a copy of Shocking Life, Schiap’s fabulous memoir, for a peek into the life of the woman who married the sartorial and the surreal.