Fiat 500 by Gucci – Click above for high-res image gallery

A company like Fiat has proven itself eager to take on new challenges. Dominate Italian industry? Done. Undertake a partnership with the world's largest automaker, then extract billions after pulling out? Done. Take over one of the Detroit Three and complain about the terms of a government bailout? Done. Making the 500 even more fashionable and quintessentially Italian may have seemed undoable, but as with those challenges before, it has risen to the occasion.

The latest version of its designer hatchback has been tweaked by Gucci and features all of its hallmarks, from the red and green stripes to the logos on the seats and wheel hubs. The Fiat chairman's stylish kid brother, Lapo Elkann, saw the project through to completion, displaying it in a dedicated boutique section of the automaker's show stand. And while it may not be as exciting as Zagato's coupe version, for those who (like the model standing next to the car) prefer to match their car to their purse, it very well may be the best thing since artisanal sliced bread.

Live photos copyright ©2011 Noah Joseph / AOL

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