Jason Wu for Target: Blake Lively, Chloe Moretz Step Out for New York Launch Party [PHOTOS]

The Jason Wu for Target collection doesn't officially launch until Feb. 5, but celebrations arrived early for the designer, as he hosted a private shopping event showcasing his new pieces.

Blake Lively, Chole Moretz and Jaime King were on hand Thursday to kick off the New York party, as well as a handful of lucky shoppers, who got to purchase some items early.

Wu's Target collection consists of 53 pieces, including dresses, handbags and scarves. The big bargain is that each piece retails for under $60.

We have so many fans from a younger generation that cannot yet afford Jason Wu but pay attention to what we do . . . it also shows my range as a designer that I'm able to design for two spectrums of the market, Wu, 29, told USA Today.

The entire Jason Wu for Target collection will sell online and in select stores starting Feb. 5. For a preview, visit the Jason Wu for Target Web site.

Scroll down for photos from Thursday's private launch party.

Photo: REUTERS

Actress Blake Lively attends a celebrity event where designer Jason Wu and Target unveiled a "Limited-Edition Apparel and Handbag Collection" at a private shopping party in New York January 26, 2012.

Photo: REUTERS

Designer Jason Wu poses for photos at a private shopping party where Wu and Target unveiled a "Limited-Edition Apparel and Handbag Collection" in New York.

Photo: REUTERS

Actresses Blake Lively (L) and Chloe Moretz (R) pose with designer Jason Wu at a celebrity event where Wu and Target unveiled a "Limited-Edition Apparel and Handbag Collection" at a private shopping party in New York.

Photo: REUTERS

Actress Chloe Moretz attends a celebrity event, where designer Jason Wu and Target unveiled a "Limited-Edition Apparel and Handbag Collection" at a private shopping party, in New York January 26, 2012.

Photo: REUTERS

Actress Blake Lively poses with designer Jason Wu (R) as she attends a celebrity event, where Wu and Target unveiled a "Limited-Edition Apparel and Handbag Collection" at a private shopping party, in New York.

Photo: REUTERS

Actress Jaime King attends a celebrity event where designer Jason Wu and Target unveiled a "Limited-Edition Apparel and Handbag Collection" at a private shopping party in New York.

Photo: REUTERS

Actress Emmy Rossum attends a celebrity event where designer Jason Wu and Target unveiled a "Limited-Edition Apparel and Handbag Collection" at a private shopping party in New York January 26, 2012. REUTERS/Ray Stubblebine

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