Today, H&M released its collaboration with the fashion house Balmain, a name you will recognize if you listen to rap music, or follow celebrities on Instagram, or remember that jacket that made both Justin Bieber and Kris Jenner look like Michael Jackson. Anyway, in Europe at least, people are trying to murder each other for this shit.

Balmain recently debuted a thousand-dollar shredded t-shirt, which got us thinking: How much money could you waste on a t-shirt, jeans, and a trash bag to schlep your empty wallet? Behold, the $15,500 homeless person outfit.

• A notorious group of "gem raiders" hit the Cartier in Cannes yesterday and made off with more than $20 million in merchandise. What probably should have been a tip-off that something was amiss: the robbers were all clad in Hawaiian shirts. [Telegraph, Sun]
• Balmain may be getting into the handbag biz. [WWD]
• Big things are planned for Fashion's Night Out, the extravaganza that takes place this September and is designed to get people shopping again. Anna Wintour's brainchild will "involve a cornucopia of in-store events, from parties to personal appearances by designers and celebrities, live music, fashion shows, freebies, charity tie-ins, and extended shopping hours." [WWD]

Balmain's fall 2009 collection might be for ladies, but the fashion house's output has looked Michael Jackson-ish for some time. Now Jackson actually wears Balmain, as do his celebrity imitators. Headaches ensue. (Pic)