NEW YORK (

TheStreet

) --

Kohl's

(KSS) - Get Report

is looking to launch a new brand in 2011.

The value-priced department store has outperformed competitors amid the recession, mainly due to the strength of its diverse portfolio of private-label brands.

After rolling out several new labels between 2007 and 2009, Kohl's went on a brief hiatus this year. But CEO Kevin Mansell said during Goldman Sachs' Global Retail Conference, that a new line is on the horizon.

While he didn't provide too many details, he did say it would be a contemporary, modern brand in the better to best price point.

"We haven't had any new brand in women's that hasn't worked," Mansell said. "We also have room for newness in men's."

Currently, Kohl's boasts exclusive partnerships with designers and brands like Simply Vera by Vera Wang, Candies, Chaps and Rachel Ray, among others.

Earlier in the summer, the company also announced a deal with footwear and accessories retailer

Aldo

, which will produce an exclusive line of shoes for Kohl's that will be available in spring 2011. While another one of its exclusive brands, Elle, is also expanding beyond clothing and accessories into home products this fall under the label Elle Décor.

Private label merchandise now make up more than half of Kohl's business, and sales in this category grew 20% in the second quarter. Sales at its Vera Wang line grow more than 30% during the quarter.

--Written by Jeanine Poggi in New York.

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