Meet Fendace: Fendi and Versace present joint fashion collection

MILAN, Sept 27 (Reuters) - Rival Italian luxury labels Fendi and Versace have teamed up to present a joint collection to mark the end of Milan fashion Week.

Celebrities including Demi Moore, Dua Lipa and Elizabeth Hurley gathered on Sunday night for the show, which was kept under wraps until the last minute. Models on the catwalk included Kate Moss, Amber Valletta and Naomi Campbell.

The brands said the joint capsule, co-designed by Donatella Versace and Fendi's creative directors Kim Jones and Silvia Venturini Fendi, was a first for both houses and born out of friendship and mutual professional respect.

The designers swapped roles to create each others' clothes.

The Versace by Fendi collection mixed the Fendi monogram with Versace's signature Greek Key motif, while the Fendi by Versace collection featured a punk-rock aesthetic, with safety pins embellishing Fendi pieces.

It's not unheard of for fashion designers to join forces, but they usually are not direct rivals.

Earlier this year, Gucci designs were crossed with silhouettes and logos by fellow Kering brand Balenciaga.

This time, the collaboration - dubbed Fendace - brings together Fendi, which is part of Louis Vuitton owner LVMH's stable, with Versace, which is owned by Capri Holdings, the U.S. firm that is also home to Michael Kors and Jimmy Choo.

(Reporting by Silvia Aloisi; Editing by Giles Elgood)