Oscar de la Renta has teamed up with online retailer The Outnet and will create an exclusive collection of limited edition dresses. The 24-piece collection will be made from the same fabrics as the designer's main line but will cost lesser than the brand's other merchandise.

"Currently, the brand's outlet model is driven by surplus merchandise, and this marks the first time a product has been actively developed for this channel of trade," Oscar de la Renta CEO Alex Bolen told WWD. "We have things around here that are underutilised - [such as] 40 years of patterns, fabrics and artwork that a lot of people spent time on. We thought, perhaps we can put something together in a way that is new, that doesn't require as much development time and in an exclusive way."

Model and actress Olivia Palermo will feature in the ad campaign and the collection with be promoted through various publications as well as the social media.

This collaboration with Oscar de la Renta is another feather in the cap for the online retailer. It has already teamed up with labels like Erdem and Alexander McQueen in the past.

"We know that our customer loves Oscar, but we also feel that this is an amazing opportunity to tap into The Outnet's audience and a new audience that Oscar as a brand might not have reached yet," Vogue UK quoted The Outnet managing director Stephanie Phair. "This is tapping into a potential customer that will become an Oscar de la Renta customer."

The collection consists of signature floral dresses by the designer as well as pieces in solid colors, sheath dresses, shorts, high-waist pants etc, and is scheduled for a Feb. 26 launch. The pieces will be priced in the range of $325 to $1,295.