Maybe don't spend all your pennies on H&M's highly anticipated Kenzo collab, because hot on its heels comes yet another big-scale, completely covetable capsule - this time with globally acclaimed New York artist Alex Katz.

Katz, who turns 89 this year, is famed for his highly stylised, saturated portraits of men and women, vividly rendered in block colours and sweeping brush strokes. From December 1, fans of his style worldwide will be able to take home clothing (both womenswear and menswear), accessories and homewares emblazoned with his sought-after artworks.

Guess which MEGA artist H&M has teamed up with?

This is big news for anyone who's ever coveted an Alex Katz original - in any other circumstance, there's no way a mere mortal's bank balance could cover the cost. "It is exciting for me to work with H&M to make my art more accessible to more people," Katz told "The partnership with H&M surpassed my expectations."

This isn't the first time H&M has chosen to collaborate with a major artist - in 2014, famed American artist Jeff Koons allowed a print of his renowned Balloon Dog sculpture to appear on a limited edition bag for the brand.

Alex Katz x H&M hits stores worldwide on December 1.

Guess which MEGA artist H&M has teamed up with?