H&M will launch a new collection in November in collaboration with luxury brand Versace. Co-branding is not new in the clothing industry, especially for H&M. The company has already collaborated with large luxury brands including Karl Lagerfeld, Viktor & Rolf, Jimmy Choo and Lanvin over the past few years. Why is co-branding becoming popular in the luxury and fashion industry? What are the risks and benefits for the brands involved?