Sorry, Santa, but we'd argue that winter's most exciting event is H&M's designer collaboration. Last year's Alexander Wang collection flew off shelves in a matter of hours, and now another fashion prodigy, Balmain's Olivier Rousteing, is stepping up to the plate. At just 29, Rousteing (right)has managed to raise the Parisian label's profile from inaccessible to ubiquitous, thanks to celebrity endorsements from Rihanna and the Kardashian-West clan. His reach with the young fashionista set should only grow with these fast-fashion pieces, which promise much of the formula that made Balmain a hit (minus the hefty price tag). Expect references to Michael Jackson's Thriller era, with bicolor leather jackets and biker pants, as well as military coats, tailored sportswear, and embellished accessories. Just prepare to wait in line (or online) to grab these garments when the collection hits stores November 5.