Costco may have Chanel bags at its New York City outpost, but there's a new buy-in-bulk contender in town.

Target, or as many of us affectionately call it "Tar-jay," is launching a warehouse club event called "The Great Save," now through Feb. 21.

"The Great Save is a way for Target to offer our guests exceptional deals on everyday essentials -- just in time for their post-holiday stock-up -- and a treasure-hunt experience with a variety of exciting designer brands," said Kathee Tesija, executive vice president of the Minneapolis-based retailer.

Stocking up, in this case, comes without any warehouse club fees, and offerings will range from T-shirts and beauty products to granola bars in packages large enough to feed the Jolie-Pitt clan, all at significant savings.

Even more exciting is that there will be a selection of designer apparel and home decor not normally found at Target.

New brands include Ralph Lauren polos at a reasonable $25 a pop and Ed Hardy pieces priced from $34.99 to $64.99, according to WWD.

And with designer collabs with Jean Paul Gaultier and Zac Posen on the horizon, we can't help but wonder if more luxurious duds are being carried at the warehouse.

Could there be straight-from-the-runway looks by the retailer's current partner Rodarte? We wouldn't count it out when it comes to the high-low minded geniuses at Target.

Each participating store (approximately 1,000 of its 1,740 locations) has a central area sectioned off for The Great Save and a selected collection of discounted goods is also available at the retailer's specially dedicated Website.

Looking for more discount shopping? Start out the new year with these budget-saving sales.