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Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster

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Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster

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MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year

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Ex-Google engineer says Larry Page, Sergey Brin and Sundar Pichai share the same trait—it's the lesson he swears by as a $7.2 billion AI CEO
RetailIKEA

Those Bulky IKEA Bags Are Getting a Fashionable Makeover

By
Michal Addady
Michal Addady
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By
Michal Addady
Michal Addady
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June 9, 2016, 1:24 PM ET
A shopping bag and cart in Beijing Inter Ikea shopping
BEIJING, CHINA - 2014/12/12: A shopping bag and cart in Beijing Inter Ikea shopping center. Beijing Inter Ikea shopping center opens on mid December, located near the South Fifth Ring Road in the Xihongmen area. The center covers 210,000 square meters of space and offers more than 400 retail brands, which is claimed the largest commercial property project in the world by Inter Ikea Center Group. Inter Ikea Centre Group is hoping to expand its appeal to Chinese middle class families by opening more sites in the country's top 10 cities. (Photo by Zhang Peng/LightRocket via Getty Images)Photo by Zhang Peng—LightRocket via Getty Images
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The ever-so-familiar blue and yellow tote bags from IKEA are getting a fashionable redesign.

The Swiss furniture retailer has brought on Hay, a Danish design brand, to give the large bag a new look, Fast Company reports. The Fraktas, as they’re officially called, were first launched 20 years ago. Over 3 million are sold each year in the U.S. alone. Their low price of 99 cents and the fact that they can carry as much as 30 pounds without tearing make them an easy purchase, but they’re not exactly known for being especially chic.

Hay plans to make a more fashionable design that it hopes will be “long-lasting.” The pattern is forest green and white—much more subtle than the bright blue and yellow that make the original bags so familiar. Instead of polypropylene, the crinkly material the Fraktas are currently made out of, Hay uses a thin woven fabric. As a result, you can expect the new design to be a bit pricier than 99 cents, though likely not by much.

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The new tote bags are expected to go on shelves sometime this year. IKEA will continue to sell the older bags as well.

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