Would YOU pay £900 for a carrier bag?

Balenciaga releases designer tote that looks exactly like a basic paper bag but costs 174 times as much.

You might resent paying 5p for a carrier bag in your local supermarket but the biggest designers want you to fork out 174 times that price for one.

Fashion houses such as Balenciaga are selling designer handbags - that look identical to the bags they package their goods in - for eye-watering prices.

The Balenciaga Shopping Bag, a simple white calfskin bag with black handles emblazoned with the fashion house's name, is retailing for an extortionate £870.

And while that seems a laughable amount for the average shopper, it seems that it's coveted among fashion fans - because it's already sold out.

It's not the first time that the fashion giant has unveiled a designer version of a staple.

The French luxury brand released a bag that's suspiciously similar to IKEA's iconic 'Frakta' tote, known for it's bright blue colour, its durability, and its absolutely massive size.

Whereas the IKEA 'Frakta' bag is made from 100% polypropylene, a recyclable material, the Balenciaga tote is composed of 'wrinkled, glazed leather.'

Another key comparison is the price point. The classic IKEA tote will set buyers back all of 40p, whereas Balenciaga's 'Arena Extra-Large Shopper Tote Bag' is just a bit more expensive, at £1,693.

Rather than taking offense to the replication of their design, IKEA appears to be praising the French brand for their design skills. In a statement to Today, an IKEA spokesperson said,

'We are deeply flattered that the Balenciaga tote bag resembles the Ikea iconic sustainable blue bag ... Nothing beats the versatility of a great big blue bag.'

Earlier this year, they were mocked for the £2,325 extra large lambskin printed tote that was branded 'hilariously stupid' by fashion fans because it looks exactly like a plastic blanket bag.

People pointed out on Twitter that the luxe accessory resembles the same bag you probably threw away after dumping your blanket on your bed, which you probably paid less than £25 for.

(ASIA PACIFIC DAILY)