Neiman Marcus Luxury Meets Target Bargains

CEO says partnership with discount retailer is "once-in-a-lifetime"

The CEO of Dallas-based luxury retailer Neiman Marcus says its partnership with discount retailer Target later will be a shopper's dream come true.

The Target + Neiman Marcus Holiday Collection will feature specially made items designed by 24 Council of Fashion Designers of American designers.

Karen Katz, Neiman Marcus CEO and self-professed Target fanatic, said the partnership is also a dream come true for her.

"It's always nice to see how they're doing fashion at the kinds of prices they're able to offer that, and then I take my basket around the corner and go buy my Tide and all my cleaning things that I need, and off I go," she said.

Katz said the two retailers have good design in common and will bring designer goods at low prices in December.

"It's once-in-a-lifetime," she said. "It's great holiday gifts and gifts that any of us would be proud to give the people in our lives."

The power pair tapped 24 designers, including Tory Burch, Diane Von Furstenburg, Alice + Olivia and Robert Rodriguez, to design more than 50 products. The lineup will include clothing, handbags, home and even pet products.

Katz was tight-lipped on the specifics but said the final goods surprised even her.

"We were in Minneapolis -- just a small group of Neiman Marcus executives -- a few weeks ago and got to see the first product that was coming out of the factories, and we were blown away by the quality," she said.

Every item will be available in Target and Neiman Marcus stores and online. The prices will range from $7.99 to $499.99.

What is Target's benefit? Designer buzz. What is Neiman's benefit? Masses of people.

"We hope," Katz said. "We are getting ready. We do think that the kind of traffic that this collaboration is going to drive, Neiman Marcus is going to be unique and probably a little bit overwhelming."

But don't expect to see this collaboration every December. This is it -- "once in a lifetime," Katz said.

The Target + Neiman Marcus Holiday Collection will launch in stores and online Dec. 1.

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