Gwyneth Paltrow collaborates with designer Micheal Kors

American designer Micheal Kors and actress Gwyneth Paltrow

announced a collaboration for a holiday line, which will be exclusively designed for Paltrow’s own company, Goop. “Michael’s clothes are gorgeous, staple, American classics that never go out of style,” Paltrow stated, thrilled to be working together with her long time friend. The news of Paltrow’s latest collaboration comes swiftly after a previous announcement in September, when she reveled a collaboration with Stella McCartney.

The actress is a big fan of Micheal Kors and hopes to reinvent some of her favorite iconic pieces from the designer in the new collaboration: “I thought it would be wonderful to reinvent some of my favorite vintage Michael Kors looks that I have kept for years, that I wear over and over.” The collection will consists of a number of ready-to-wear limited-edition key items, such as peacoats and capes, as well as selected handpicked accessories from Kors own collections. Prices are set to vary between 125 dollars for a necklace to 2,500 dollars for a cashmere cape.

Paltrow's previously teamed up with Ecoalf, a Spanish eco-friendly brand, to design a vest and backpack made from recycled materials for her company. Goop is Paltrow’s own e-commerce and digital media company, that was launched end of 2008. It offers its readers weekly online issues that contain tips on living a healthy lifestyle, recipes and unique fashion finds.