Balmain is adapting to the rougher economic climate, launching a more affordable line called Pierre Balmain next spring.

The new line gets a preview in a film directed by Inez & Vinoodh that follows Pierre Balmain-clad model Abbey Lee Kershaw and her band, Our Mountain, across NYC.

Judging from the campaign, the new label will stay true to Balmain’s signature rock’n'roll feel established by former designer Christophe Decarnin, despite its creative direction taking place outside the fashion house.

The brand that famously sells t-shirts for $1,600 is adapting to the rougher economic climate, launching a more affordable line called Pierre Balmain next spring.

While the fashion crowd hopes the new label will stay true to Balmain’s signature rock’n'roll feel established by former designer Christophe Decarnin, its creative direction will take place outside the fashion house

the entire production will be overseen by Italian licensee Ittierre SpA, which already has similar agreements with lines like Just Cavalli.

Looks as if new creative head Olivier Rousteing was only the beginning of a series of big changes at the French fashion house.

Thanks to a new licensing deal with Italian company Ittierre, a more accessibly priced ready-to-wear range is in the works.

The new line will consist of both men’s and women’s clothes under the name of Pierre Balmain, and while it will be produced by a separate design team, the creations will have to be approved by Rousteing.

Virtually unknown Olivier Rousteing will succeed Christophe Decarnin at the Parisian fashion house, Women’s Wear Daily reports.

According to the trade paper, Rousteing has worked under Decarnin at Balmain for the past three years after a six-year stint at Roberto Cavalli.

Balmain had announced on April 6 that it was parting ways with Decarnin.

His absence at the label’s runway show in March had already spurred speculation about his future at Balmain.

Christophe Decarnin, head designer of Balmain for the past five years and responsible for one of the most distinct looks of Paris fashion, is leaving the house.

An official announcement is expected on April 6. According to the trade paper, his successor — rumored to be an internal creative — will be named shortly thereafter.

A potential candidate might be Melanie Ward, who took over from Emmanuelle Alt when she was named French Vogue‘s editor-in-chief, and who completed the collection after Decarnin’s mysterious no-show last Paris fashion week.

Madonna’s Dress for Celebration Video comes from Balmain Fall 2009 campaign.