Ann Taylor seen trying on haute couture

NEW YORK (CNNMoney.com) -- Women's apparel retailer Ann Taylor will soon launch an upscale clothing line in an effort to capture a larger number of affluent female shoppers, according to a report published Friday.

Starting next week, stores in cities such as New York and Chicago will carry their new Collection line which includes items such as pants, handbags and cashmere sweaters priced about 40 percent higher than its traditional merchandise, the Wall Street Journal reported.

A pair of Ann Taylor pants typically sells for $68 to $128 and suit jackets for $198 to $228. Within the Collection line, pants will sell for $175 to $195 and suit jackets for $295 to $365, according to the paper.

"We know there's a client there who has an appetite for more upscale, expensive product," Adrienne Lazarus, president of the Ann Taylor brand, a division of AnnTaylor Stores Corp (up $0.51 to $32.51, Charts) told the Journal.

The line, which will incorporate high-end fabrics, will have its own department within Ann Taylor stores in an effort to distinguish it from the company's traditional merchandise, the paper said.

The move comes as Ann Taylor and other midlevel women's apparel retailers have struggled lately, according to the Journal.

The company told the paper that the new line will not be offered at all of its stores, but that it would be available on its Web site by the end of this month or in early October.