High fashion designers continue to strike back against the copy cat industries’ claim that they offer designer goods at affordable prices, by introducing lower priced designs of their own.

Instead of shopping around for a cheap knock-off of a high end design, design houses are offering a direct brand descendant that just happens to be $300-$500 instead of $500 and up … way up.

Badgley Mischka, a staple on Hollywood red carpets, has just introduced Mark & James. I love the name by the way. It aptly captures the scaled down price point, without losing the identity or adding some clunky Marc by Jacobs for Marc Jacobs … or whatever the heck M.J. has titled his latest line.

The Mark & James collection will launch for holiday 2009 with approximately 30 styles, according to a release issued today. The collection is anchored by beaded and embellished dresses. In addition, “flapper” inspired dresses have an edgier approach with chain and beading details. Rounding out the line are various takes on the little black dress.

Dresses in the collection range in price from $300 to $550. Mark & James will be distributed on the contemporary floor of major department stores (wonder if that means Macy’s and Dillard’s instead of the usual Badgley Mischka line at Neiman Marcus, Bergdorf Goodman and Saks Fifth Avenue) as well as fine specialty boutiques nationwide.

Badgley Mischka has ventured into lower price points before, but the idea was to put their name on daywear — blouses and tops and cardigans. That didn’t work out so well because people love Badgley Mischka for evening wear. So it’s a really smart move to offer a collection that capitalizes on their bread and butter but expands their market.

Over the past 20 years, Badgley Mischka has developed a lifestyle brand that includes: Badgley Mischka Couture, Eveningwear, Handbags, Eyewear, Footwear, Accessories, Jewelry, Watches, Swimwear, Fragrance, Home, Bridal and Bridesmaids.

Perhaps, their customer will eventually be ready for slacks and camisoles, but I doubt it.