Set to hit boutiques and high-end watch and jewelry stores in May 2010. Luxury brand Versace SpA (Milan) will be partnering with French phone maker ModeLabs to design its own mobile phone line. The new phone will be unveiled to Versace VIP clients at a Paris couture event early next week, before hitting stores in the spring. ModeLabs, is working with artistic director Donatella Versace to design the phone and it will feature high-end materials like leather and can be customized to your liking with specific colors and materials. “Most brands would have never imagined that a luxury telephone was possible,” says Stephane Bohbot, ModeLabs’ CEO. “Now limited distribution and customized design have created a new interest for brands in telephones.” Luxury giants such as Giorgio Armani, Dolce & Gabbana and Prada also offer their own luxury phones. The Versace phone is expected to retail for over $5000. With that being said, I am not so sure that consumers will attempt to distinguish cell phones with fashion when it comes to luxury brands, watches yes, cell phones not so much. Most would much rather a luxury shoe or dress over  a phone. I mean, I am all for luxury of course, but I’m not so sure if Apple (a brand I love) came out with evening gowns, that I would jump at the opportunity, my brain couldn’t comprehend that concept. There is so much competition in smartphones phones such as iPhone and Blackberry that when people hear of Versace or Dior phones I think it tends to go by the wayside and aims to attract celebrities and the fashion conscious. At any rate, we wish Versace the best!