Oscar De La Renta is launching a line for The Outnet.

The fashion house will unveil a 24-piece collection made of old fabrics and patterns for the discount designer outlet website on February 26, with retail prices expected to range from $325 to $1,295.

Alex Bolen, Oscar de la Renta chief executive officer, told WWD: ''We have things around here that are underutilised - [such as] 40 years of patterns, fabrics and artwork that a lot of people spent time on. We thought, perhaps we can put something together in a way that is new, that doesn't require as much development time and in an exclusive way.

''[But] the thing we have to be careful about is that we don't want to dumb down our product or offer the same thing at two different prices.''

Style icon Olivia Palermo has been chosen to front the campaign in a homepage takeover, as well as product images and a shoppable video, and the content will be promoted across social mediums like Facebook, Twitter and Pinterest.

The Oscar de la Renta for The Outnet uses the same fabrics and patterns that have previously been used in the designer's main collection and is made in the same factory.

Stephanie Phair, the e-tailer's managing director, said: ''We know that our customer loves Oscar, but we also feel that this is an amazing opportunity to tap into The Outnet's audience and a new audience that Oscar as a brand might not have reached yet. This is tapping into a potential customer that will become an Oscar de la Renta customer.

''It's all about reinterpreting classic styles, so we wanted someone polished who represented the Oscar brand but that also was someone that Oscar doesn't typically use.''

This marks The Outnet's largest scale collaboration to date, after collaborations with Alexander McQueen, Erdem, Anna Sui and Paul & Joe.