From www.madonna.com:

Madonna has recently finished a new photoshoot and commercial to show off M by Madonna collection for H&M. M by Madonna was designed by Madonna and will be debuting in stores in March. Madonna & Steven Klein are frequent collaborators, whose photographs have been the cover of Madonna’s latest multi platinum selling CD, Confessions on a Dance Floor, as well as two W Magazine spreads, and the subject of an exhibition in Tokyo and Moscow. We can’t wait to see what they come up with next! Check back to Madonna.com for more updates.