Ashley Olsen, Mary-Kate Olsen

Dave Allocca/

Good news, Olsen twin fans and fashion lovers alike!

Mary-Kate and Ashley Olsen have announced that they're designing a new handbag collection for their Elizabeth and James line with a much lower price point. 

Lower, of course, is a relative term, considering previous purse designs for The Row have ranged from $39,000 to $55,000 for a crocodile skin backpack covered in drugs.

According to Women's Wear Daily, the line, which includes a tempting range of chic satchels, shoppers, messenger bags, backpacks, hobo styles, clutches, wallets and more, will range from $125 to $395 for small leather goods, and $395 to $625 for bags. 

"We wanted the price point to be strong," Mary-Kate told WWD. "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."

Start saving up, ladies! This is one cool collection you'll want to get your hands on. 

Would you buy a handbag designed by the Olsen twins?

Fashion spotlight: Mary-Kate Olsen 

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