Isabel Toledo to Design Shoes, Handbags for Payless

The designer behind Michelle Obama's inauguration suit is the next to join the lower-priced collab bandwagon -- this time for Payless, which has previously featured partnerships with designers like Alice + Olivia, Lela Rose, and Chrsitian Siriano. Alas, she won't be creating pitch-perfect dresses and suits, but there will be handbags under $40.

Toledo may have been a winning talent before the First Lady chose to wear her cheery yellow wool lace shift and jacket -- she was, after all, the creative director of Anne Klein for a couple of years -- but it was her inauguration moment that really put her on the map on a national scale, and has allowed her collections to become in-demand in department stores like Barneys.

While it's disappointing that the lower price line she's producing won't include the kinds of pieces for which she's most well-known -- ladylike dresses, perfectly flattering full skirts (ahem, Michelle Obama staples), we're interested to see her take on accessories.

According to WWD, nothing (and we mean nothing) in entire line will be over $40 -- standing in contrast to, say, Christian Siriano's recent line, where sky-high heels are priced around $80 -- and will include flats, heels, and even rainy-day galoshes in patent leather, rubber, mesh, and other materials. Frankly, with an under-$40 price tag, we can't imagine the heels will be terribly comfortable, but maybe we'll be surprised.

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