Economy Update: The Row’s $34,000 Alligator Backpack Has Sold Out

In today’s WTF news, that crazy-expensive alligator backpack that Mary-Kate and Ashley Olsen designed for The Row (we briefly mentioned it here) is apparently flying off the shelves. While the covetable bag is luxurious and all, we still have so many questions. First of all, how many of these debt-inducers were made, and who’s buying them?

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Ashley Olsen tells WWD that, despite the very real possibility of a double-dip recession, the bag was “the first thing that sold off the shelf,” and compared the surprising consumer interest to the kingpin of aspirational luxury brands: “During our last economic crisis in the U.S., the only thing that went up was Hermès.” Recession who?

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