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The 'Olympia's Wonderland' collection by Lancôme and Olympia Le-Tan (Photos: Lancôme)

In the wake of collaborations with Alber Elbaz, Jacquemus, and Anthony Vaccarello, Lancôme is renewing its partnership with the world of fashion with Olympia's Wonderland, a capsule collection by Olympia Le-Tan, best known for her whimsical minaudières and clutches in the shape of books. Here's what you need to know about this mashup:

Chic, colorful and retro

Although Lancôme's famous rose remains the emblem of the French luxury perfumes and cosmetics house, for this collection, Olympia Le-Tan sought to create an alternative icon. In search of inspiration, the designer buried herself in the brand's archives where she rediscovered the cherub icon chosen by Armand Petitjean to represent Lancôme's make-up line in 1935. Completely restyled by Le-Tan, the new cherub has become a feminine angel, with a pin-up look, glasses, pink hair and crimson lips.

(See also: Tatler Picks: 5 Facial Correctors To Up Your Makeup Game)

Smoky, iridescent, powdered lips

A star piece in the collection is the fun Olympia's Wonderland palette. With a design that recalls Olympia Le-Tan's signature book-cover clutch bags, the palette cover depicts the rebellious angel icon of the collection surrounded by open books.

The palette offers four shades of eyeshadow that will enable beauty addicts to create smoky eyes with metallic glints: Gris Argent 1988, a glittery steel colour, Brun Nacré 1965, a slightly iridescent taupe, Paradis 1956, a deep burgundy, and Nommé Désir 1971, a muted white. A blush, a universal colour-fixative base for the lips, and four lip powders in cold violet, pink, cherry and red complete the package.

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The Olympia's Wonderland palette takes the form of a minaudière clutch in the shape of a book

Love and kisses from... Lancôme

Another key element in the collection: the brand's signature Absolu Rouge lipstick is restyled for an ultra-glamorous look. Christened "L'Absolu Rouge Le Bisou" for the occasion, the lipstick is engraved with an imprint of Le-Tan's lips and the signature "Olympia xxx". But the real innovation is the whimsical lip-shaped bullet tip.

Three shades which have been taken from Lancôme's archives and updated, are available: the vintage rose Couture 1962, the cherry-red Anémone 1959, and the flamboyant red Olympia 1980.

The collection also features three new metallic shades of the Artliner eyeliner, three exclusive colors of the Matte Shaker liquid lipstick, four new versions of the Le Vernis nail polish, and by an Amour topcoat with heart-shaped glitter. Olympia Le-Tan has also restyled the most recent Lancôme mascara, Monsieur Big, and the box of the brand's Cushion Highlighter.

The Olympia's Wonderland collection is available now in stores and on lancome.com.

(Related: Tatler Picks: 7 Eye Makeup Essentials To Nail Fall’s Dreamy-Eyed Trend)