Your next home décor obsession has a name!

Megan Stein
May 17, 2017

This article originally appeared on People

Decorating junkies let out a collective squeal of pure joy when TJX Cos., the parent company of TJ Maxx, Marshalls, and HomeGoods, announced in March that they will be launching a new home concept store this year.

On Tuesday, CEO Ernie Herrman finally shared a few more details on the forthcoming chain, including its name: HomeSense.

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On a quarterly earnings call, he stated, “We plan to open our first store in late summer with a few more stores slated for the fall,” he said. “HomeSense will offer consumers a different mix of home fashions from HomeGoods, but at the same grade value.”

RELATED: PEOPLE Readers Share Their Most Hilarious HomeGoods Finds and They Do Not Disappoint

And just when you thought things couldn’t get better, they also announced that the inexpensive go-tos will be situated near each other, so customers can conveniently “shop both.”

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Hermann said in March that the goal for HomeSense, “is to make them distinct enough, but complementary to HomeGoods and its offerings,” adding that, “Our customers are passionate about HomeGoods and we are confident they will love our new home concept, too.”

BRB, starting the savings account now.