Now, I know that I can get excitable about fashion happenings from time to time but a recent announcement in the clothing world has got me practically jumping around the Secret Sales office with joy.

It gives me great pleasure to announce that designer clothing could become that little bit more affordable for all us babes on a budget thanks to a new collection from Versace.

Due to that pesky recession that we hear mentioned every five minutes, the designer clothing brand is set to release a new lower-priced range in the hope of encouraging profits in the company.

As the brainchild of chief executive Gian Giacomo Ferraris, the Versace Collection range will be an impressive 30 to 40 per cent cheaper than the main line.

But in slightly gloomier news for Versace employees, the company has also announced that it is set to lose approximately 350 staff worldwide in a bid to cut costs.

I will most certainly be hot-footing it out of the office as soon as the collection hits stores in the hope of securing a fabulous bargain.

Versace got a welcome celebrity endorsement at last weekend’s Grammy awards when Jennifer Lopez showcased the brand’s mini-dress gown hybrid from the spring 2010 collection.

Will you be rushing out to buy Versace Collection?

If the past efforts of models designing clothing are anything to go by then we here at Secret Sales HQ will be welcoming in the new offerings from Coco Rocha with open arms.

The Canadian becomes the latest in a string of models-turned-designers, with Kate Moss, Heidi Klum and Amber Valletta all having constructed popular clothing collections for brands ranging from Longchamp to Topshop.

Coco revealed one of the pieces from her range - which is available from September onwards - at last weekend’s Grammy awards.

She dazzled crowds in a navy satin Victorian-inspired gown with gold-plated shoulders that featured a fun mini skirt peeking out from under the dress.

But if you’re expecting futuristic fashion from this catwalk queen then you’d be wrong. She said: "I can tell you that I love the 1800s, costume-y, but elegant, Victorian-inspired clothes."

"I’m trying to take pieces and elements of that era and put it into a modern woman."

The model hopes to present the collection at New York fashion week in September and has stated that her goal is to keep the high-fashion range affordable.

Kate Moss’s most recent designing attempts for luxury French leather brand Longchamp were showcased last week at a launch party held at The Ritz in Paris.

What do you think of the recent trend of models-turned-desingers?