Saving money has become so fashionable in this recession that sellers of premium goods and services are introducing bargain deals. Well, bargains for Beverly Hills, anyway.

The latest example: Rock & Republic Enterprises Inc. soon will roll out blue jeans that sell for $148, T-shirts for $48 and stiletto pumps for just shy of $200. The company usually sells jeans for $180 to $220.

Michael Ball, the founder and chief executive of Rock & Republic in Culver City, conceded that the new low prices may not land in Wal-Mart’s sweet spot. “But it’s not high in the premium market,” he said.

The cheaper clothing is part of the company’s recession-inspired Plain Wrap line, which will launch Aug. 1. Ball got the idea for Plain Wrap after the success of a limited-edition “recession collection” of jeans that Rock & Republic unveiled in March. Those were priced at $128 to $138 and sold out in two weeks.

The Plain Wrap line has some fun with the generic concept. T-shirts, for example, have the word “T-shirt” printed on them, sneakers are marked “sneakers” and jeans are labeled “jeans.”

Of course, the company isn’t alone in offering reduced prices on luxury goods and services.

Umberto Savone last week announced he is offering walk-ins at his hair salons in Beverly Hills and Beverlywood, charging $65 for a shampoo, cut and blow-dry way below his top price of $150.

“It doesn’t matter if you live in Beverly Hills or Hollywood or wherever,” Savone said. “People just want to save money right now.”