Obession Alert! Is This The New (Way Less Expensive) Alex Wang?

Here at Refinery29, we're always on the hunt for the next big new designer, and we may have just found him in Erik Hart, the man behind FACTORY by Erik Hart. His pre-fall '11 lookbook is full of drapey, fluid jersey dresses (almost space-age in person), hand-knitted cotton fisherman's mesh detailing, and Italian glove leather (in a shirt!) that will strike a sweet chord for Alexander Wang fans. The price-point, though, is in a different universe—every single piece is under $250, unexpected with the high-quality fabrics. Plus, we love the futuristic prints, created from Hart's giant spray-paint and Japanese ink paintings. Now live on shopbop.com, the range of edged-up offerings is also available at, where else, OAK. We don't suggest skimping on Alex, but when the wallet's a little low, Factory will feel just as good.

R29 GIVEAWAY: We want you to get in on our obsession with a giveaway of a look from the summer '11 collection (the last picture in the slideshow). Just like this post on our Facebook page—we'll select a winner randomly!