USMagazine, Thursday, January 31, 2013, 4:00pm (PST)
Mary-Kate and Ashley Olsen, 26, may have been the masterminds behind The Row's $55,000, prescription pill-encrusted, crocodile-leather backpack, but that doesn't mean they don't care about the little people. According to WWD, the child stars-turned-designers will be launching their first line of bags for their more affordable brand, Elizabeth and James, this summer. And what constitutes "affordable" to the famously wealthy twins, whose business empire has an estimated worth of $1.5 billion? Their small leather goods will be priced in the $125 to $395 range and bags will cost $395 to $625.
Calling them leather goods is perhaps doing them a disservice, though: Among the materials the fashion-forward sisters have chosen for their accessories are haircalf, New Zealand lambskin accented with stamped lizard trim, and Italian suede.
"We wanted the price point to be strong," Mary-Kate told the trade publication. "The price point is below [Alexander] Wang and [Phillip] Lim but above Marc [Jacobs] and Tory [Burch]." "And Rebecca Minkoff," Ashley added. "We wanted these bags to be affordable."Tell Us: Do you think their line is affordable?