We’ve always wondered why traditional discount stores like, Saks Off Fifth, Lohmann’s, The Rack and Last Call allowed online discounters–Guilt, Rue La La and HauteLook– to take a big bite out of their off-price luxury market share. Well the time of traditional discounters has come and Neiman Marcus has launched LastCall.com.

The website comes with all the bells and whistles of other online discounters, including flash sales, which they uniquely call Fashion Dash. The designer line-up seems quite respectable. There’s Oscar de la Renta, YSL, Proenza Schouler, Chloe and Fendi. Prices range from 50% to 75% off, which is great, except that the options within each designer section are limited to two or three pieces. Did we mention that there is a men’s section too?!

Like all good discount stores — online and offline — you’re going to have to dig for treasures. At least this excavation can take place from the comfort of your favorite chair. Just like off-line, you can return merchandise within 30 days of receipt for a full refund or credit.

In honor of their launch, LastCall.com is offering customers a $50 gift card when they spend over $100. Seems like a pretty good incentive to us. And shipping is free on all purchases.