In an announcement last Wednesday, Hennes & Mauritz confirmed that the London-based designer would design a one-time womenswear collection that will be available in selected H&M stores in November across Europe and North America.

“Designing a one off collection for H&M one of the most exciting and innovative ways to introduce my clothes to a broader range of women,” Stella McCartney said in a statement.

Geared for Fall 2005, “Stella McCartney for H&M” follows at the heels of the very successful “Karl Lagerfeld for H&M” wherein the collection was sold out in just hours after it hit the store shelves.

With prices so affordable, ranging from $19.90 to $149.00, consumers cannot turn away from the chance of owning something from their favorite designers, wherein prices are usually within the $1000 range.

This is Stella McCartney’s second strategic partnership. The first one is with Adidas, wherein she created a functional sport performance range for women that offer running, gym/workout, swimming as well as cover-ups in the collection.

But unlike the alliance with H&M wherein it is a one-time deal, the Stella McCartney’s collaboration with Adidas is long term, wherein she will roll out two collections a year. The first one hit stores last February, just in time for spring and summer.

The price points for Stella McCartney for Adidas is also very affordable, 40 to 200 Euros (approximately US$52 – US$260), within range of her planned collection for H&M.

Both alliances are expected to boost brand awareness for Stella McCartney’s eponymous label. Launched in 2001 with the Gucci Group, Stella McCartney continues to get rave reviews from the fashion press, but it has failed to translate to the cash registers.

Rumors has it that PPR, the new owner of Gucci has put pressure in all its “emerging labels” that include Alexander McQueen and Balenciaga by Nicholas Ghesquire to be profitable by 2007.

With Stella McCartney becoming better known as a serious designer in her own right and not just part of the celebrity set called the rock & roll royalty, chances are good that her label will be in the black before the 2-year deadline is over.