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Why Target Is Teaming Up With Neiman Marcus
CNBC.com | December 01, 2012 | 03:56 AM EST

Hoping to drive sales during what is typically a slow period in the crucial holiday shopping season , Target [ TGT 63.81  -0.12 (-0.19%) ] joined with Neiman Marcus to debut a much-hyped-about collaboration with 24 designers on Saturday.

Buzz has been building for the last several weeks since the company announced it would partner with the high-end designers, including Diane von Furstenberg, Tory Burch and Jason Wu, to produce more than 50 items ranging in price from $7.99 to $499.99.

The pieces will be available at both stores and on their websites. For many designers, the collection has offered them a chance to break with their typical offerings to explore new areas, such as the plates that women's wear maker Tracy Reese has created.

"One thing to keep in mind is that these are 24 designers that typically wouldn't be attainable to most people," said Dustee Tucker Jenkins, Target's vice president of communications. "Their price points can be a bit high — sometimes in the thousands of dollars — so we are making most items under $60. We are making these designers available to people who normally would not get to experience them."

Following a disappointing 1-percent decrease in same-store sales in November, Target will be counting on the partnership with the high-end department store to drive holiday shopping traffic.

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