TODAY   |  December 01, 2012

Unlikely retailers team up for designer deals

For the first time ever, super retailers Target and Neiman Marcus are partnering with 24 top designers for the 50-piece gift collection that hits stores today. The collection features everything from funky cookie cutters to a bike by designers Alice and Olivia. NBC’s Mara Schiavocampo reports.

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This content comes from Closed Captioning that was broadcast along with this program.

>>> it is one of the most anticipated retail partner ships. just in time for the holidays. target teaming up with neiman marcus . they have teamed up that designer collaboration. we are live in harlem with more. i know that target well.

>> i'm sure you do, erica. good morning. this is the first day of this collection available nationwide. the door just open here at this target. shoppers can also go online to find it, 24 designers, 50 luxury items and a whole lot of excitement. it's not a partridge in a pear tree , but target and neiman marcus say they've got more than enough for the 12 days of christmas . for the first time ever, the super retailers are partnering with 24 top american designers for a 50-piece gift collection.

>> one of the great things about these brands coming together is that you can never think about these designers that the average person doesn't get to experience.

>> designers like marc jacobs , jason wu , were given free rein on what to create and came up with everything from housewares.

>> these dessert plates. 18-carat gold trim. my wife's absolute must-have item. i have to come home with these.

>> to clothes. cooking tools.

>> these amazing cookie cutters.

>> reporter: and even some unexpected pieces.

>> they don't make bikes. so unique.

>> reporter: the collection ranges from $8 to 500. starting today will be sold for the same price at both budget friendly target and luxury retailer neiman's.

>> we do they the kind of traffic that this collaboration is going to drive is going to be unique and probably a little bit overwhelming.

>> reporter: though they share the collection, each will handle inventory and sales separately. target, a lower end retailer with more than 1,700 locations and neiman, a high end company with about 40 stores, may seem like strange bedfellows, but analysts say this partnership gives them a combined edge against their competitors, though target will likely come out on top.

>> they have a long history of collaborating with designers to offer exclusive products you can only buy at target. neiman marcus could potentially offer a customer a surprise. they didn't intend to be able to go into neiman marcus and buy a diane vonn furstenberg item for considerably less.

>> reporter: partnerships between designers and retailers have been picking up in the last few years. much to the customer's delight. last year, crowds gathered for versace's collection. and the target's 2011 collection was so popular it crashed the company's website.

>> exclusive collections and collaborations are one way that retailers can get you to buy that product at their store because it is only available there.

>> reporter: target says they want to make sure everyone gets a crack at this selection so they've ordered double the inventory and they're also limiting customers to five items each. i hear a rumor you may have already reached your five-item limit.

>> i did. they're en route to my house right now.

>> reporter: there you go.

>> i was surprised. you mentioned that they ordered double. i was wondering what would happen with that. i went on this morning just to see and was surprised that it was so easy and that there was so much there.

>> absolutely. they want to make sure, because in the past these things have been so successful. they want to make sure that people have a chance to get the items