A look from Mulberry's Fall 2010 collection. Photo: Getty Images

It's official -- we are so moving into our local Target.

We've barely tucked our low-priced Zac Posen and Liberty of London scores into the closet and already the mass retailer has announced that it will be collaborating with Mulberry on a budget handbag collection, according to a company press release.

Can we get an OMG! in here?

Available at Target stores and on Target.com from October 10 to December 24 (hint, hint, Santa), the line will -- fingers crossed -- include nods to the iconic British brand's current It bag, the Alexa.

Beyond that, details are still scarce at this time, but who are we kidding? It's Mulberry. It's Target. What more do you need to know?

Boasting celebrity fans like Naomi Watts, Britney Spears, and Alexa Chung (she of the eponymous status bag), Mulberry's tree logo handbags are a Brit girl staple. Here's hoping we find some bargain Bayswater lookalikes to toss in our little red shopping cart!

Meanwhile, read about Target's collaborations with Temple St. Clair and Tucker by Gaby Basora.