H&M has teamed up with the Sydney-based activewear brand P.E Nation for its latest fashion collaboration.

The retailer has announced the imminent launch of a sporty series featuring clothes, swimwear, undergarments and accessories, which is set to roll out worldwide from March 5.

The collection will focus on sustainable materials such as organic cotton and recycled polyester, and will span everything from leggings and t-shirts to bicycle shorts to sports socks, all with a retro aesthetic and streetwear edge. Color blocking and tie-dye patterns make for a bold, dynamic series built on a color palette of neutrals peppered with jolts of mint green, neon pink and bright orange.

"With the H&M collaboration, we want women all over the world to live a more confident, vibrant, fashionable life whilst juggling her fast-paced urban existence," said Pip Edwards and Claire Tregoning, co-founders of P.E Nation, in a statement,

"The collection can be worn all day, every day, whilst being flexible, functional and style-led. All the pieces work so well together -- it's very easy to mix and match."

"It's been a lot of fun collaborating with P.E Nation -- the teamwork and energy between them and our designers was great!" added Maria Östblom, head of womenswear design at H&M.

"Pip and Claire know first-hand about the need for activewear in all aspects of daily life as female entrepreneurs and co-founders of such a dynamic lifestyle brand. They are fantastic role models and super inspiring themselves."

The news marks the latest in a string of high-profile collaborations for H&M, which has already announced collections with the singer Billie Eilish, the supermodel Helena Christensen and the costume designer Ruth Carter so far this year.