STAGE TUBE: Sneak Peak of Lifetime's PROJECT ACCESSORY Premiere

PROJECT ACCESSORY, the spinoff to PROJECT RUNWAY will premiere on Lifetime on Thursday October 27th at 10:30 pm. Hosted by supermodel Molly Sims, PROJECT ACCESSORY will have 12 contestants competing against each other in a series of accessory design challenges.

In the show's 90-minute format, the new crop of designers will encounter host Heidi Klum, mentor Tim Gunn and judges Michael Kors and Nina Garcia and top-name guest designers and judges from the worlds of fashion, film and television, including Kim Kardashian, Christina Ricci, Zoe Saldana and Malin Akerman, as they face inventive challenges, unexpected eliminations and other surprises along the way.

In a PROJECT ACCESSORY first, during the premiere episode, 20 designers must go in front of Heidi, Michael, Nina and Tim to make a case why they deserve one of the 16 coveted spots this season. Once they are chosen, the 16 designers barely have a chance to celebrate before being awoken at the crack of dawn with one of the toughest first challenges in the series' history.

As part of the winner's prize package, this season's victorious designer will receive $100,000 from L'Oréal Paris to start his/her own line, a fashion spread in Marie Claire magazine, a $50,000 technology suite by HP and Intel to create his/her own vision and run his/her business and the opportunity to design and sell an exclusive collection on Piperlime.com. The model paired with the winner of "Project Runway" will also appear in the designer's editorial feature in Marie Claire and receive $25,000 from L'Oréal Studio Secrets Professional.

In The Hollywood Reporter's exclusive preview, Sims introduces the show's esteemed judges designer Kenneth Cole and InStyle Editor, Ariel Foxman. In addition, Will & Grace's Debra Messing (who's starring in the upcoming NBC show, Smash) will guest judge on Thursday's premiere.

To view the sneak peak of the premiere episode, click below!