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Toledo for Payless

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In this week's collab news, New York and First Lady inauguration dress designer Isabel Toledo will be designing a line of handbags and shoes for Payless. The line will launch in September and nothing will be over $40. No images for now, but we hear the line will feature flats, square heels, wellies in a range of shapes and the materials include patent leather, nylon, rubber and mesh. Payless CEO tells WWD that after collaborating with emerging talent like Christian Siriano and Alice + Olivia, they're looking forward to adding a "fashion icon" to their collab stable. We're hoping to see Michelle Obama rocking some mesh square heels in the Fall. [WWD, subscription req'd]