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As Big Tech showers employees with perks to win the talent war, Nvidia built a nearly $5 trillion company by making people pay for their own lunch

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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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Current price of oil as of July 1, 2026
RetailIKEA

Ikea Responds to Balenciaga’s $2,145 Version of Its 99 Cent Bag

Alana Abramson
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Alana Abramson
Alana Abramson
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Alana Abramson
By
Alana Abramson
Alana Abramson
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April 25, 2017, 6:53 PM ET
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Two very different brands, Balenciaga and Ikea, both found themselves in headlines and internet memes after people discovered that the style giant’s new $2, 145 handbag looked awfully similar to the furniture company’s 99 cent tote bag.

The Swedish company finally has a response: helping consumers differentiate a “real” Ikea bag from the Balenciaga one.

A new post gives consumers four hints their shopping bag, the Frakta, is not Balencia: 1) Shake it – “if it rustles it’s the real deal. 2) the bag is Multifunctuon – “it can carry hockey gear, brikes and even water, 3) Throw it in the dirt – “a true FRAKTA is simply rinsed off with a garden hose when dirty, and 4) price tag – “only $0.99”

Nothing beats the versatility of a big blue bag! Get the designer look for less with the #IKEA FRAKTA shopping bag. https://t.co/4QezcAv5qM https://t.co/S67uUBmg9Z

— IKEA USA (@IKEAUSA) April 20, 2017

According to Creativity, the post was created by the Swedish agency ACNE, and is being put on social channels and retail sites globally.

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Alana Abramson
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