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Mary-Kate and Ashley Olsen's five-figure backpack

Meagan Morris is an entertainment and lifestyle journalist living in New York City. In addition to SheKnows, Morris contributes to many publications including The New York Times, Yahoo! News, PopEater, NBC New York and Spinner. Follow he...

Mary-Kate & Ashley's $39K bag

Mary-Kate and Ashley Olsen are launching a new -- and ridiculously expensive -- handbag collection for The Row.

Mary-Kate and Ashley Olsen The Row handbag collection

You know, we were pretty pumped when Mary-Kate & Ashley Olsen announced a new handbag collection for their The Row clothing line. After all, their clothes are pretty amazing, so we figured the bags would be the same.

Oh, they are -- that's not the problem. The problem is the price tag. You see, The always-fashionable Olsen sisters aren't designing their handbags for us mortals. Need proof? Check out the price tag on their crocodile skin backpack: $39K.

The Olsen twins $35,000 backpack

That's right -- one little backpack from The Row costs more than many fashion-loving women make in an entire year. We get it -- it's chump change for the gazillionaire Olsen twins, but not us.

"We wanted to do a bag for every occasion," Mary Kate said during the line's launch party.

And fashion people are singing their praises.

"Bags had become quite unstructured -- as a trend they got gi-normous," Barney's creative director Simon Doonan said. "To have a bag with precision design that's more considered and beautifully executed is exactly right for now. I spent part of the evening with the black crocodile backpack, and that was a good feeling."

The rest of the collection includes a day tote, doctor bag, classic shoulder bag, metal-framed minaudiere twin and laptop twin.

If you're still interested -- and won't have to mortgage your house to afford it -- you can get The Row handbags later this month at Barney's stores.

Tell us: How much are you willing to spend on a handbag?

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