Penelope and Monica Cruz to Design Agent Provocateur Line of Lingerie

3:18 PM PDT 10/24/2012 by Merle Ginsberg

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One of the world's most expensive (and sexy) lingerie lines might now actually be affordable -- and celebrity friendly in its design.

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Penelope and Monica Cruz

When Vivienne Westwood's son Joe Corre started Agent Provocateur lingerie a number of years ago -- before the economic crisis and guilt set in about spending $200 on a thong, and three times that on a bra -- it instantly became one of the most beautiful -- and expensive -- brands of lace and embroidered lingerie in the world.

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There was a huge demand for it -- until the prices went out of control, and everyone started cutting back on luxury goods. Now the company is going the way of all retail these days -- creating a diffusion line called L'Agent (not to be confused with L'Agence clothing). It will feature 15 styles of bras, briefs, thongs and corsets, with the average price around $64. That's higher than the most expensive thing in Victoria's Secret, but hopefully, it will have higher quality.

It will also have the design touch of Penelope and Monica Cruz -- both of whom were involved with designing lines for the Spanish brand Mango a few years back. The sisters will be involved with the visual campaigns of the new brand, and are signed up to be involved for the next five years. This will definitely be some underwear worth collecting. Good for holiday gifting, too.

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This week, Target announced a collaboration upcoming with New York designer Prabal Gurung -- these are two bits of very good news for the cost-counting who love great design. Gurung is the most luxe designer to go with Target yet. Let's see if it reaches the level of desirability of Missoni for Target a few years back, or the recent Marni and H&M launch.