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Phillip Lim to design exclusive collection for Target

Models at Phillip Lim's Fall 2013 Mercedes-Benz Fashion

Models at Phillip Lim's Fall 2013 Mercedes-Benz Fashion Week show in Manhattan in February 2013. (Credit: AP)

From Missoni to Jason Wu to Prabal Gurung, Target's designer collaborations have consistently been hits with the fashion crowd, celebrities and budget shoppers alike.

So it's no surprise that the retailer decided to keep this going, announcing Thursday that next in the lineup is Phillip Lim.

The fall 2013 3.1 Phillip Lim for Target collection, set to hit stores Sept. 15, will include "beautifully tailored" apparel for men and women, shoes, handbags and travel accessories. It is said to incorporate a "classic fall palette of neutral tones and prints" and ranges in price from $19.99 to $299.99. Outerwear will include a trench coat for women and a leather moto jacket for men.

“One of the reasons I wanted to collaborate with Target is because I felt that together we could create a collection that would inspire – one that is cool and chic, but still very accessible,” Lim said.

Lim, a New York-based designer known for his label 3.1 Phillip Lim, is a favorite of Kate Hudson, Keira Knightley and Scarlett Johansson.

“Phillip is a designer we’ve had our eye on for years. His aesthetic is modern and sophisticated,” said Trish Adams, Target's senior vice president of merchandising.

Photos of the collection will be released closer to the launch date, so stay tuned and keep enjoying your Kate Young dresses and Prabal Gurung sandals until then, Target shoppers.