What credit crunch? Olsen’s $39,000 backpack is first in collection to sell!

When Mary-Kate and Ashley Olsen debuted their new handbag range for clothing line The Row, there was one item that stood out for all the wrong reasons.

The black alligator backpack was heavily criticised, not because it was made out of alligator skin, but because it was essentially a backpack that retailed for just under $39,000.

But the twins can laugh in the face of all naysayers as their controversial item has become the first in their collection to sell. In fact, so popular is the backpack, it’s now sold out on Net-a-Porter.

If, like us, you’re wondering how a glorified – albeit gorgeous – kid’s bag has flown off the shelf when it costs little less than most peoples’ one-year salary, Ashley Olsen says it’s to do with the falling economic climate that encourages people to buy luxury.

“It was the first thing that sold off the shelf,” she told WWD. “During our last economic crisis in the U.S., the only thing that went up was Hermes.”

Perhaps some people just have far too much money to play with.

[Contact Music]