It's beginning to look like the holiday shopping season, but given the economic turmoil, you may think haute couture in big, gift-wrapped boxes is a thing of the past.

Luckily, some of America's biggest retailers like Target, H&M and Wal-Mart are debuting designer collections by some of the world's top fashion houses including Comme des Garcons, Thom Browne and Anya Hindmach. From London to L.A., here are the best designer collections of the season and a few can't-miss items that won't break your gift-buying budget.

We'll thank Target ( TGT) for its original collection of Michael Graves spatulas and toilet brushes that gave birth to America's demand for big, flashy names at Main Street discount stores. For winter 2008, the retailer is unveiling a high-fashion shoe collection by Sigerson Morrison. The limited-edition collection is available through mid-December, offering a sexy selection of studded and jeweled footwear including booties, pumps and flats from $29.99 to $39.99. Considering their high-end collection retails between $350 and $595, the shoes are a steal. They come in black, cobalt blue, silver and metallic shades.

Target is partnering with fashion it-girl Anya Hindmarch for a collection of limited-edition handbags. "Anya was able to create such a luxurious collection while staying true to her keen sense of craftsmanship," says Trish Adams, senior vice president of Target.

The collection includes a variety of oversize satchels, shoulder and baguette-size bags outfitted with French bindings in playful textures and colors of chocolate, gold and black patent finishes. To top off the hot, new bag and shoes, jewelry designer Dean Harris has been plucked for a chic holiday line of earrings, rings, bracelets and necklaces using sterling silver and semi-precious stones priced from $19.99 to $249.99.

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