In honour of Pride Month and the 10th anniversary of Gaga's iconic 'Born This Way' album - which is synonymous with the LGBTQIA+ community - the Italian fashion designer has re-visited the jacket, which took 400 hours to complete.
The custom piece is set to go under the hammer with all proceeds going to the Grammy-winner's non-profit organisation, which supports young people's wellness.
Versace said in a statement; “I am so happy to partner once again with Lady Gaga and the Born This Way Foundation. Our friendship and our efforts to promote equality, diversity and inclusion have only become stronger with time.
“It’s been 10 years since we created the looks for her Born This Way Ball, so we’ve decided to revisit the leather jacket — one of my favourite pieces from the tour — to be auctioned for a great cause. Gaga and her foundation are so inspiring, I love the work they do with vulnerable youth and the LGBTQ+ community.”
What's more, the brand has released a limited run of Pride T-shirts and a beret to match the jacket with Versace printed in the colour of the rainbow flag.
Meanwhile, Gaga recently teased a re-release of 'Born This Way' featuring LGBTQIA+ artists.
Big Freedia's take on 'Judas' was released last week and the full collection will arrive on June 18.
Fans can also expect covers of ‘Highway Unicorn’, ‘You & I’, ‘Marry the Night’, ‘The Edge of Glory’, and the album's title track.
In a statement, Big Freedia said: "'Judas' was my favourite song when it came out originally, so I really wanted to cover it.
“To me, ‘Judas’ is a love song about when someone does you dirty. I’ve sure had my experience with that. Who can’t relate?"
The 'Born This Way' anniversary LP news came days after Gaga was awarded West Hollywood's Key to the City on Born This Way Day (23.05.21).
The 35-year-old singer's chart-topping record was honoured for its cultural impact.
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