A failing economy shouldn't get in the way of looking good but for those who don't want to spend their precious earnings on overly expensive pieces, Rachel Roy is here to save the day. Last night the designer, whose eponymous label is a favorite of stars like Oprah and Lucy Liu, launched her new diffusion line, Rachel Rachel Roy, with a well-attended fete in her midtown showroom.

Model Veronica Webb and editors in the form of Elle's Joe Zee, Teen Vogue's Amy Astley, and Glamour's Cindi Leive were all on hand to preview the lower-priced fall collection which will be sold exclusively at Macy's come August. And what did they see? Jersey jumpsuits, water-colored dresses, fake fur vests, and chunky knit cardigans as well as accessories such as spiked necklaces, suede peep-toe booties, and tie-dye pumps. The kicker? The price range runs from $39 - $299.

"It's the younger sister to the high-end line," said Roy as she greeted her guests. "It's for the girls who are just getting started in the job force (and love to go out) but don't want to look like their trying to be stylish."