This morning, Banana Republic and Milly founder and designer Michelle Smith, announced the Banana Republic Milly Collection – a limited-edition capsule inspired by the summer sophistication of the Hamptons. The women’s collection is a natural extension for Milly, with men’s styles representing Smith’s first foray into menswear.

The Banana Republic Milly Collection marries the iconic Banana Republic sense of modern style with Milly’s signature vintage-inspired prints and patterns for a collection that feels equal parts sophisticated and playful.

Comprised of more than 60-pieces of women’s and men’s apparel and accessories, the collection will incorporate a new print created exclusively for the capsule as well as six beloved Milly prints that have been updated specifically for the collection.

Covetable women’s pieces range from maxi dresses, mini-skirts, and shorts in a rainbow of on-trend colors, including lime, coral, and navy, to versatile poolside totes and summer scarves while menswear looks feature a lineup of striped and patterned separates, including bright polo’s, woven tees and shorts.

The capsule collection will range in price, for Women’s: $45 – $175 and Men’s: $24.50 – $64.50 with Jewelry and Accessories ranging in price from $39.50 – $130.

The collection will be available for purchase in late May 2013 and will be carried in select Banana Republic stores in the United States, Canada, United Kingdom, Italy, France, and Japan, as well as online in 24 countries through www.bananarepublic.com, www.bananarepublic.ca, and www.bananarepublic.eu.