Gwyneth Paltrow and Michael Kors are set to collaborate.

The 41-year-old actress is joining forces with the 54-year-old fashion designer to create a one-off Christmas collection, which will be inspired by her own wardrobe and favourite pieces from Kor's collections, for her website

Speaking to WWD, Gwyneth said: ''Michael's clothes are gorgeous, staple, American classics that never go out of style. I thought it would be wonderful to reinvent some of my favourite vintage Michael Kors looks that I have kept for years, that I wear over and over.''

The designs will include ready-to-wear outfits, such as capes and peacoats, as well as a number of glamorous accessories and signature pieces from Kor's main line.

The pair have known each other for over 20 years and have been deliberating the possibility of a collaboration for a while.

Kors explained: ''I have always been intrigued by the idea of someone who can juggle all the balls in the air and do it with great style, make it look easy, be smart and have a sense of humour.

''We always said, 'Wouldn't it be great if some time we could do something together, in whatever way.' We started talking about the idea that when you buy something, you often don't know that it's going to turn out to be your favourite piece.''