Saks holds a secret sale online, takes on the fashionista websites

Psst, wanna buy some cheap Chanel? Make sure Saks has your e-mail address.

According to the Wall Street Journal, Saks Inc. (SKS) is experimenting with online private sales on top-of-the-line designer goods. A 36-hour sale kicked off this week and another will follow in November.

It's no secret that luxury retail has been struggling this year. Barneys New York is trying to avoid a second trip to bankruptcy court and Neiman Marcus has scaled down its notoriously extravagant holiday catalog in a recession concession. Saks CEO Steve Sadove acknowledged his stores have trimmed back prices somewhat, because even the rich are on a budget these days.