Target aims for high-end collaboration

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MINNEAPOLIS, July 11 (UPI) -- Luxury retailer Neiman Marcus and discount retailer Target say they're joining forces for a holiday collection featuring items from top U.S. designers.

The limited-edition collection featuring 50 gift items will be sold at both Target and Neiman Marcus stores beginning Dec. 1. Prices for the collection by designers such as Diane von Furstenberg, Derek Lam, Rodarte and Tory Burch range from $7.99 to $499.99, with most items less than $60.

"This collaboration is unlike anything Target has done before, and we are confident our guests will be thrilled with this extraordinary collection that features some of America's most preeminent designers," Gregg Steinhafel, chairman, president and chief executive officer of Target, said Tuesday in a release.

Neiman Marcus says many of their customers shop at Target, The Wall Street Journal reported Wednesday.

"The way people shop in the last decade, they mix and match," Wanda Gierhart, Neiman Marcus chief marketing officer, was quoted as saying. "A lot of Target shoppers shop in our stores."

Target and Neiman Marcus said they are donating of $1 million to the Council of Fashion Designers of America in recognition of the 24 designers, all of whom are members of the CFDA.

"I can think of no better finale to CFDA's 50th Anniversary celebration than through this extraordinary designer collaboration," Von Furstenberg, president of the CFDA, said in a release.