The latest Staples ad campaign is for "M by Staples," a stylish collection of stationery and desk/storage accessories. Here's the microsite, which includes links to the ads and various product categories.
Looks like Staples wants to be the Target of personal office supplies--hip, tasteful, and distinctive. Having just visited a Staples store yesterday, I'd say the effort isn't yet fully integrated into the physical presentation. (I even had to search the regular Staples site just to find the right page to link to.) Given the "back to basics" spending by many customers feeling the recession, the timing doesn't seem right for M by Staples.