If you’ve seen those recent J.C. Penny commercials that feature women screaming in a bloody murderer manner, it’s obvious that JCP wants our attention—badly.

Big Changes at J.C. Penny: Shop-in-Shops and a Collaboration Collection with Nanette Lepore

J.C. Penny’s February, 2012 catalog cover

The retailer is, after all, making some pretty huge changes. The latest change from the fast fashion retailer is a departure from its old business model of open floor selling to JCP shop-in-shops.

WWD is reporting that everything, except for the name of the store and its adequate e-commerce component, will change—a move made possible by the success of the Sephora shop-in-shops that generated more sales per square foot that the rest of the store and a decision made by the retailer’s new “dream team,” as Forbes calls it.

The new team formed late last year is comprised of Ron Johnson, known as the man who launched Apple‘s retail stores, the chain’s new CEO—who then recruited Michael Francis, the man behind Target’s branding and marketing efforts, to serve as the new president.

Both aim to make the company “America’s favorite store”—a want that’s made very apparent by the new Americana logo.

There will be 100 individual shops dedicated to each brand—it’s like a bazaar of commercial fashion. And, like Target, it jumped on the designer collaboration bandwagon and is adding more designers, like Nanette Lepore to their list.

The only concern is that customers who aren’t brand orientated may have to walk store to store to just get a pair of pants.  Despite that, they seem confident in forking over $800 million to make this change, as it will end up allowing the company to save $900 million in cost savings by 2013.

J.C. Penny, or should I say “jcpenny” now, is making quite the turnaround that seems risky, yet a fun way to give consumers a new retail experience.