Banana Republic and L'Wren Scott have announced their limited-edition holiday 2013 collection, which will hit select Banana Republic stores worldwide and online on Dec. 5.

The capsule is perfect for "glamorous holiday parties out of town or at home," featuring "high-quality, feminine designs," according to a release. The "Banana Republic L'Wren Scott" collaboration marks the first time that the two brands have worked together. They have combined their shared approach to femininity, but each bring their own signature style.

Scott embraces a "timeless style" philosophy, mixed with a love for modern classics, that can be worn from day to night. With sexy silhouettes and detailed clothing, the designer has become a celebrated tastemaker.

"L'Wren really understands what a women loves and wants to wear," said Simon Kneen, Banana Republic's creative director and executive vice president of design. "Her knack for bringing imaginative versatility and femininity to classic design is something that immediately brought us together as creatives. We share an appreciation for genuine luxury, beautiful fabrics and unexpected details. The designs created for this collection bring a modern approach to pieces you will love forever."

The 50-piece collection, runs the gamut from sequin party dresses and bejeweled cardigans to feminine, tailored pieces, lace frocks and pencil skirts. Fabulous meets functional, with silk and faux fur accents brushing up against clutches with sparkly chains that double as statement necklaces or bracelets.

The best thing seems to be a trio of exclusive original prints spread generously throughtout the capsule. Lipstick red and vibrant violet runs across skirts, blouses, handbags, scarves and pajama sets, and bold red and pink "romantic" peonies float on blouses, jeans and other scarves.

Rounding the palette off are "a candy stripe of black, Ulta Violet, Poster Red and Lipstick Red" on blouses, pajama sets and accessories.

The collection has a lot in the way of gifts to give to your family or friends and Scott is very happy to be apart of this experience.

"A partnership of this scale was a first for me, and I was very excited to find a true partner in Simon [Kneen, Banana Republic's creative director and executive vice president of design,"] the creative visionary and founder of the namesake label said. "Through this collection, we were able to bring our shared vision to life and the end result is a capsule we're both so proud to call our own. It beautifully combines the ultra-feminine with wearable polish and will bring a sexy confidence to our consumers."

Join the conversation on Twitter with @BananaRepublic @lwrenscott #BRLWren and drop a note below!