The company also plans to manufacture lines for Karl Lagerfeld and Balmain in the future.
Discussing the foundations of the Gaultier collection in more detail, Ittierre general director Alessandro Locatelli said the designer's signature "sartorial" style will be seen in the offering.
It will also be "close to the history of Ittierre and to the consumer", he said.
The as-yet-unnamed streetwear range will be Gaultier's fourth diffusion line since he launched his own brand in 1976.
The new collection is expected to follow in the designer's tradition of taking inspiration from music and the theatre. In a recent interview he revealed more about the nature of his designs.
"I do not see myself as an artist but as a craftsman. I do not think fashion is art," Gaultier told TWELV Magazine.
"Anything can inspire me - travelling, books, cinema, theatre."