Report: Neiman Marcus opening moderately priced store concept

New York City Luxury retailer Neiman Marcus plans to open a line of new, more moderately priced stores called Last Call Studio this fall, according to The New York Times.

The new Studio stores will carry lower-end products, bought directly from vendors, the report said, and be located in suburban areas or strip malls. The stores will be aimed at value-minded shopper who "may not have the reach level to buy the fine apparel that Neiman Marcus offers," said Wanda Gierhart, chief marketing officer for Neiman Marcus.

Studio stores will be less than half the size of the biggest Last Call mall outlet stores. The company debuted the new concept in Dallas, with additional locations to follow in Rockville, Md., and Paramus, N.J., in November.