Target, Neiman Marcus team up for fashion

They may make an odd couple, but discounter Target and luxury merchant Neiman Marcus are jointly offering a limited collection spanning from fashion to sporting goods for the winter holidays.

More than 50 products from 24 designers, including Oscar de la Renta and Diane von Furstenberg, as well as younger designers such as Derek Lam, will be available at both stores and on their websites starting Dec. 1 until they sell out. Items in the collection will cost from $7.99 to $499.99, but most will sell for less than $60.

Target pioneered the idea of low-price chains teaming with designers to create limited-time, affordable versions. But the partnership with Neiman Marcus is unprecedented. Target sells $25 dresses, while Neiman Marcus has cultivated a reputation for expensive fashion, selling $1,000 shoes and $3,000 handbags.

Now, both want to grab a new segment of customers who are increasingly shopping around, checking out higher- and lower-price stores. Target is seeking new ways to boost its fashion image while Neiman Marcus needs to step outside its comfort zone to stay competitive.