Elizabeth and James by Mary-Kate & Ashley Olsen

left: A sequin dress inspired by Mary-Kate Olsen’s vintage find
right: MK wearing the vintage sequin dress back in ’06 (MK pic via TFS)

Mary-Kate and Ashley Olsen presents their new contemporary line, Elizabeth and James. WWD reports that the line is named after the Olsens’ younger sister, Elizabeth, and older brother, James, the twins teamed up with Peter Koral and Jane Siskin, the creators of Seven For All Mankind and LaRok to create this line. This collection is based on a relationship between a young girl and a boy and to tell a story through the clothing. The contemporary collection is a play on masculine verses feminine and casual versus dressy. For a dressed-up look, the line includes silk dresses and a sequin minidress that was inspired by one of Mary-Kate’s vintage finds.

Elizabeth and James will launch domestically with four collections for spring, fall, holiday and resort in limited distribution. Bergdorf Goodman, Neiman Marcus and Intermix has already picked up the line for fall. With wholesale prices ranging from $40 for T-shirts to $452 for a fox-fur trim coat, I guess they realized that not many ladies out there can afford $360 leggings under their The Row collection. Are you liking what you’re seeing so far?

More preview pics from the line after the jump…

Elizabeth and James’ fringe jacket, T-shirt and leggings, and a backless hoodie dress