The creative by JWT follows a young couple who are reunited at an ice rink. It will go head to head with the launch of the M&S Christmas advert when they both launch on Wednesday 6 November during '
The M&S ad focuses on the retailer’s dresses and stars models Rosie Huntington-Whiteley and David Gandy in a fantastical setting.
The soundtrack for the Debenhams spot features a re-recording of the track 'Youth' by Foxes, featuring F.A.M.E’s Macedonian Radio Symphonic Orchestra and a full choir.
The retailer is describing the activity as its biggest ever Christmas campaign, which will be backed by multi-channel support, including an online hub that offers users the chance to win a £300 giftcard when they submit their wishes to the site.
Debenhams will select some wishes, which could involve finding the perfect gift for a friend or flying across the world to see loved ones, to come true.
Additional participation will be driven by a social media campaign on Twitter and Facebook via the #wishesmadefabulous hashtag.
The ad will also be shown in cinemas for the first time, while TV viewers will be invited to "shop the ad" instantly during 'The X Factor' using the show’s app.
The campaign features products from Designers at Debenhams, including ranges by Patrick Grant, Julien Macdonald, Henry Holland, Aliza Reger and Jonathan Saunders.
The spot develops the creative theme of the retailer’s autumn campaign by adapting the ‘Life Made Fabulous’ strapline and showing the product alongside the designer sketches of the clothing.
Richard Cristofoli, marketing director at Debenhams, said: "Our advert builds on the success of our autumn/winter brand campaign with our new creative concept and bigger, more cinematic approach to production.
"It really captures the true sentiment of Christmas. It’s not quirky, or depressing, it’s all about celebrating moments that make Christmas special and about making wishes come true, no matter how big or small."