Michael Preysman used to window shop in New York City neighborhoods like SoHo, stopping, browsing and buying in stores that were perfectly laid out with expertly merchandised goods that had hefty price tags dangling.

Even though he was in finance, not retail, he longed to recreate that window shopping experience online, by offering a curated selection of top-notch, designer-quality apparel and accessories—like something you’d find at Saks Fifth Avenue—but at a discount. With the launch this month of Everlane, a San Francisco-based startup that attracted some big venture-capital players and just came out of stealth, he says that concept is becoming a reality.

Everlane comes up with its own designs, has them manufactured with its own label (sewed inside and never outwardly branded) and brings them to the customers with no middle man involved, and no network of physical stores. In a move that the company says is designed to "pull back the curtain on a bloated fashion industry" that routinely prices items at 10 times what the items cost, everything is under $100.

“We do everything in the virtual world,” Preysman said. “We’re experiencing a brand from the ground up, reinventing retail. We can design something, and within 60 days [on average] it’s manufactured in one of our (partner facilities) and five days later it’s going to our consumer.”

The site, which launched November 1, currently has 100,000 members, offering them basic “essential goods” collection at deep discounts, as well as limited collections in rotating categories. Because it doesn’t have brick-and-mortar operations and goes direct to select U.S. and overseas manufacturers with its orders, the company maintains it's able to offer merchandise at half their typical price. And it also grabs input from fans and takes those yays and nays into account for the manufacturing process.

It's gotten some mixed coverage from fashion bloggers, with one Daily Candy writer describing it as an "egalitarian"option for the "99 percent who can't afford the labels we covet." Less impressed with the indie, sticking-it-to-the-man concept was a Jezebel writer who wasn't wild about the limited selection or the fact that not all members are able to shop yet (Preysman says Everlane's opened the door to 5 percent of its members thus far, so that they don't get bombarded.)

The team behind Everlane—a mix of people from the tech, financial and apparel worlds—are working out the kinks. Preysman, 26, hails from private equity media firm Elevation Partners where he was an investor, while cofounder Jesse Farmer, 28, built viral applications for Facebook, including Adonomics, the site’s analytics platform.

Its creative crew consists of two former brand directors from American Apparel—whose influence is apparent in the simple and streamlined site. Giving input on the merchandise are a rotating list of creative type advisors, including celebrity stylists, editors, photographers and graphic designers.

The company, which has a staff of about 10, received $1 million in funding in March from a number of big-shot venture capital investors, including Kleiner Perkins, SV Angel, Lerer Ventures Betaworks, plus more from angel investors.

Everlane offers basically two collections: Its essentials include, for example, combed cotton t-shirts for men and women, on par with the high-quality t-shirts you might find in a New York boutique for $50 a piece, priced at $15 each. They’re currently available in three styles (crew, V-neck unisex, and V-neck women) and four colors for men and women: black, white, coral and gray. Later this month, it will move on to limited edition ties and bows. In December, it will offer gifts, including cuff links, women’s jewelry and bags.

Preysman says that it takes a lot of the aggravation out of shopping online for those who simply don’t want to scroll through pages and pages of merchandise.

"It's not about giving people 40 different styles of t-shirts. We give them the three to four styles that matter in six colors," he says.

And while the quick run from concept to consumer might allow the company to get trends to consumers quickly—a la H&M—Preysman says that’s not the plan.

“We don’t want to be a trend-based business,” Preysman says. “It’s much more about getting the great quality product things that you can buy and wear for the next five years.”