Olsen twins' $39K backpack flies off shelves

NEW YORK (CNN) - Apparently no one told Mary-Kate and Ashley Olsen that there is a recession.

The fashionistas are struggling to keep up with demand for their $39,000 alligator backpack.

The bag, which was created for the twins' luxury line, is flying off the shelves, according to Women's Wear Daily.

Mary-Kate Olsen said the glossy-black item is actually quite practical.

She told Style.com the twins wanted to create "a bag for every occasion."

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