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July 14, 2011 10:21 AM

Fashion Insanity - The $40,000 Backpack

Mary-Kate and Ashley Olsen are launching a handbag collection next month, and the signature piece is a crocodile backpack that reportedly costs a whopping $39,000 plus tax.

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This is the first handbag line for the twins' successful fashion line, The Row. There are nine different pieces including the aforementioned backpack. There's a matching crocodile minaudiere, a python evening bag, and a mini pouch (the cheapest item at $4,700).

We're not sure any students would be able to afford the backpack unless they were child stars like the Olsens! If you have $40,000 to drop, the bags will be available at Barneys New York store and online at Barneys.com beginning next month.

If you're looking for some more budget-friendly handbags, read TooFab's feature on Olivia+Joy.

And for some chic and relatively cheap backpacks, check out Mojo Backpacks.



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