Olsen Twins' $39K Backpack Sells Out—Quickly

Apparently ridiculously expensive luxury items perform well in a recession
By Evann Gastaldo,  Newser Staff
Posted Oct 6, 2011 9:13 AM CDT
Actresses Mary-Kate Olsen, left, and Ashley Olsen attends the J Mendel 2012 Spring collection during Mercedes Benz Fashion Week at Lincoln Center on Wednesday, September 14, 2011.   (AP Photo/Donald Traill)
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(Newser) – The solution to America's endless economic woes is apparently the Olsen twins' $39,000 backpack. In a Women's Wear Daily interview from last week just getting some attention, Ashley explains why she and her sister thought extreme luxury might sell: "During our last economic crisis in the US, the only thing that went up was Hermès." And their plan worked: The alligator backpack, part of The Row handbag collection, "was the first thing that sold off the shelf," Ashley says. Gawker has a picture, and snarks that it is "made exclusively from the skin of the mysterious fourth Olsen sister, who lives in a cage in their basement." (Read more Ashley Olsen stories.)

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