Cher and Versace Come Together for Pride 'Chersace' Shirts

Cher and Versace

Cher is celebrating Pride with none other than Versace – or shall we say, "Chersace"?

On Tuesday, the Italian fashion house launched a limited edition, Pride-inspired capsule in collaboration with the Goddess of Pop. The collection includes a T-shirt, baseball cap and pair of socks branded with "Chersace," a rainbow Versace logo and signatures from the powerhouse figures.

"It has always been my dream to collaborate with Cher, and it's finally come true!" Donatella Versace, the house's artistic director, said of the collaboration in a press release. "I'm delighted that we can support such a brilliant charity that has such a positive impact, particularly on young people."

Cher and Versace

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"Donatella and I have been dear friends for a lifetime. It just felt right for our very first collaboration to be one about LGBTQ Pride and celebrating a community that means so incredibly much to both of us," Cher said in a press release. "We wanted to make a fun collection supporting a good cause, and we hope you like it."

The collection, which is available on Versace.com, also supports Gender Spectrum, "a charity committed to the health and well-being of gender-diverse youth and their communities".

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The Burlesque star announced the collection to her two million Instagram followers with a photo of her posing in the rhinestone "Chersace" tee. "Maybe it's me, but I think this Versace T-shirt is kinda giving Cher," she captioned the post.

Versace also showed support for her collaborator commenting, "Yesssss!!! I love you, Cher ❤️ #CHERSACE is ICONIC on you 🏳️‍🌈 ."

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While the "Chersace" collection is epic, it certainly isn't Cher's first time commemorating the month of love. In 2013, she performed her iconic 1990's hit "Believe" during N.Y.C. Pride 2013. For the event, she wore a head-to-toe metallic look and sported pink hair.

A fashion collaboration is also up Cher's alley, given her catalog of iconic looks.

From her show-stopping, blinged out numbers of the '70s, '80s and '90s — including her 1998 Academy Awards gown and The Sonny and Cher Comedy Hour wardrobe — to her present-day laid-back yet fab outfits, she's no doubt still a trendsetter.

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Harry Langdon/Getty Cher

"Sometimes I wonder if people clap because I'm still alive or because I can still get into my costumes," she told PEOPLE exclusively in a cover story featured in a special edition issue dedicated to the star's 75th birthday issue.

As an 11-time PEOPLE cover star, the issue touched upon the icon's family life with her two sons, her interior eye and her vivacious ensembles, a glimpse of the latter through an interview with her costume designer Bob Mackie.

"She's not intimidated," Mackie told PEOPLE. "I'd say, 'Oh, you don't want to wear that, you're going to be so uncomfortable all night.' 'No, I'm fine. I'll wear it.'"