UPDATED TUESDAY June 12 2012: News just in this morning confirms yesterday’s rumours that this year’s big designer collaboration with H&M is to be with Maison Martin Margiela, the conceptual fashion house founded in 1988.

The collection will land in stores internationally on November 15 and feature clothing and accessory collections for men and women.

‘Maison Martin Margiela is one of the most important and influential fashion houses of the past three decades,’ says Margareta van den Bosch, Creative Advisor at H&M. ‘I am so excited by this radical collaboration which will give fashion lovers around the world the chance to wear special pieces by Maison Martin Margiela. This collaboration will be a great and memorable fashion moment.’

Maison Martin Margiela had this to say, ‘We are very happy to present Maison Martin Margiela pieces with H&M, offering a new interpretation of our vision. The democracy of our fashion has always been at the centre of our creativity, and the collaboration with H&M allows us to push this instinct further. We will bring together the contrasting universes of the two houses in ways that will surprise all.’

Expect to see queues of avant gardists snaking around H&M stores later this year.

MONDAY June 11 2012: If proven true – and H&M are holding fast on their position of ‘no comment’, according to WWD – then it would be a significant step away from previous designer collaborations, that have tended to have a more mass market appeal.

Just to recap, Margiela is the label that bought us toe-cleft boots and a signature deconstructed aesthetic. It was founded by the famously camera shy Belgain designer of the same name (who exited the label in 2009), and it is now owned by Renzo Rosso – the founder of Diesel – who also controls Viktor & Rolf.

Previous H&M collaborations have included tie-ins with Marni, Versace, Lanvin, Stella McCartney, Viktor & Rolf, Karl Lagerfeld, Jimmy Choo, Matthew Williamson and Anna Dello Russo – all very different, but none so outré as Margiela.

We’re picturing raw edges, asymmetrical proportions, a monochrome palette and a high fashion spin on androgyny – and we like what we see. Please let it be true, H&M.