Luxury for Less

Reporter Emily Pantelides

With the mortgage crisis, increased layoffs and rising gas prices, consumers are looking for ways to cut spending and save a little money.

But weathering the financial storm doesn't mean you have to scrimp on luxuries. And we've found a recession proof way to shop for a new wardrobe without breaking the bank.

Something called diffusion lines, where major designers roll out collections that are actually affordable. "A diffusion line is line of accessories and clothing by a top named designer that's geared toward the mass market."

Designers know you need a lot of cash to sport these catwalk looks.

That's why a growing number of fashion's elite are producing cheap chic collections.

Claudia Chan, President of says it's easy for you to spot the latest trends right off the runway and make them yours for a fraction of the cost.

Add a piece from a trendy boutique and a Target item, and, boom, you have Chanel's latest look or, even with the right touch, maybe Gucci's. Chan says this cheap chic trend is a win-win for both retailer and designer. "They gain a tremendous amount of name recognition given the massive amount of distrubution...put behind a brand."

This spring, a new crop of designers are collaborating with chain stores. "There's a bunch of clothing designers like Lela Rose, Alice and Olivia, and Abaete who have designed shoes an accessory lines for Payless."

That's right Payless: Why not pay less prices for a pair of designer flats.

Target is scoring rave reviews for it's latest "go international" line featuring designer Jovavich-Hawk. Her collection starts at $12.99! While her regular label runs into the hundreds. "I'm actually wearing one of her pieces today. This blouse only cost $39.99; normally, they're $300."

And high-end bags by Gryson that are retailed at $700 to $1,300 are now being added to an affordable line of handbags for Target. "It's actually in stores April 6 through June 21, and the line ranges $19 to $39.99."

With these designer deals, the slow economy doesn't have to slow down your shopping habits.

In the past few years, Target has been highly sucessful with their low cost designer lines like Issac Mizrahi's popular and still ongoing clothing line.