Market stalls across the world are filled with fake versions of designer gear – I’ve still got a decent pair of Rey Bens that I whack out when it’s sunny.

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But sometimes the coin is flipped and designer companies are influenced by life’s bargains. That certainly seems to be the case for the new Balenciaga bag. Although it looks strikingly similar to the £1 bag you can pick up in IKEA, this Arena Extra-Large Shopper Tote Bag will set buyers back £1670.

Of course, if you buy the Balenciaga version, you get real leather instead of plastic, and there’s not one IKEA brand name to be found. But I wouldn’t mind walking about with a plastic version if it meant I had an extra £1669.01 in my bank.

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IKEA seem to be loving the attention, as they told Teen Vogue:

We are deeply flattered that the Balenciaga tote bag resembles the Ikea iconic sustainable blue bag for 99 cents. Nothing beats the versatility of a great big blue bag!

Lol. Loved how they threw in the 99 cents part – slight dig, but very subtle. Seriously though, anyone who actually buys the leather Balenciaga bag really does have more money than sense.

For more of the same, here’s the time “fashionistas” were paying £1000 for laundry bags. Morons.