Versace For H&M Official Launch

The Versace For H&M collection officially launched last night in New York, with guests including Blake Lively, Emma Roberts, Jessica Alba, Uma Thurman and Nicki Minaj stepping out to attend what was described as "possibly the grandest fashion show ever".

Models in neon brights, animal prints and eye-popping statement shoes stalked the runway, showing off all 43 looks in the Versace for H&M collection, which is due in-store and online from November 17.

Click here to see the pictures from the Versace For H&M Runway Show

Front row guests were entertained by Nicki Minaj and Prince, the latter of which performed an encore of Purple Rain.

"To have my friend, the great, the amazing, the one and only Prince, and the extraordinary Nicki Minaj both perform at the event, will create exactly the feeling of joy and glamour I want this partnership to express," Versace told WWD earlier this week.

"The show served to prove that Versace still holds major pulling power in the industry," said the Telegraph UK, which added that although it wasn’t fashion week, the event had all the marks of a star-studded runway event.

Click here to see the pictures from the Versace For H&M Red Carpet

"I've always been such a fan," gushed celebrity guest Blake Lively at the event. "The dresses that she makes, all the things she makes, they're always such amazing shapes for women...she always has such unexpected things between the colours and the patterns, the detail, the beading, it's always shocking — and I love that."

Lively added that she had her eye on one of the purple dresses, which she no doubtedly picked up at the H&M boutique after the show, where VIP guests shopped until after 2am.