“It Brit” designer Matthew Williamson has some great news for fashion designers everywhere: a lower-priced luxe line! Called ‘MW Matthew Williamson’ this diffusion line offers the same lush colors, fabrics and design as his main collection, but at a fraction of the cost!

“The aim was really to offer a broader collection, with more units than we have in the line — I think it spans about 250 pieces in the diffusion line,” Williamson told Racked. “The idea is to have it at a lower price point, more accessible, and offer a slightly different slant on the main line. The main line is known more for print and color and that sort of red-carpet aesthetic, glamour and jet-set and all those kind of ideas. So whilst those ideas have some synthesis within the diffusion line, I wanted to make it more about an urban wardrobe and less about specialty pieces.”

This is the latest in a flurry of diffusion lines launched by Williamson including his recent bridal line and Macy’s collection.

To kickoff festivities, Williamson hosted a party with Refinery 29. Fashionista and style editor Rajni Jacques deejayed while guests sipped on Belvedere cocktails. See more pics of the party at Racked.com.