By StyleWatch
Updated November 04, 2009 01:30 PM

Vince Flores/Celebrity Photo

One of the benefits of being a Hollywood starlet is getting your hands on designer duds before they hit store racks. And the much-anticipated Jimmy Choo for H&M line is no exception. Clad in sparkling black and leather looks from the yet-to-be-seen collection, stars like Hayden Panettiere, Kate Walsh, Paris and Nicky Hilton, Whitney Port, Rashida Jones, Olivia Wilde, Diablo Cody and more celebrated the impending launch of the designer collaboration. “I wanted to create looks that women could go out to holiday parties, and events in,” Tamara Mellon, Jimmy Choo founder and president, tells PEOPLE at the party, which featured a performance by rapper M.I.A. “My aesthetic is to always have a rock and roll edge.” Though this line will come with a much lower price tag than the high fashion heels the brand is known for, Diablo Cody tells PEOPLE that the name still makes her think luxe. “I think about stilettos, I think about beautiful fabrics, and I think about money that I shouldn’t have spent,” says the Oscar-winning screenplay writer for Juno. From studded sandals and hot pink clutches to velvet tuxedo jackets and high-waisted leather leggings, it looks like Hollywood’s leading ladies are loving Jimmy Choo for H&M just as much as the luxury shoe line–and so are we! Jimmy Choo for H&M will hit stores on Nov. 14, but in the meantime, you can check out some of the styles on Hayden, Kate, Whitney and more in today’s Hit or Miss.–Reporting by Reagan Alexander