For months the web has been swirling around the Rykiel pour H&M Lingerie Collection. And now that the time draws near for its release this Saturday at local H&M stores, over 2,000 guests partied with Rykiel and numerous celebrities at the Grand Palais on Monday night. In addition to celebrating the Rykiel & H&M lingerie collaboration, spectators had a first glimpse of the knitwear collection (available for women and girls) which is slated for February 2010 release. I had a chance to scan through the 68-piece lingerie collection, and I must say that there are some cute items on hand. However, there were a few satin pieces in the collection which reminded me of old school girdles. Either way, I’m sure H&M fanatics will be forking over some cash once the collection drops this weekend. The price points for the Sonia Rykiel pour H&M Lingerie Collection are moderately priced. Check out the collection for yourself after the jump.

Additional Photos Courtesy Of H&M / Zuma