IKEA‘s iconic 99 cent polypropylene bag has gotten a high-fashion upgrade courtesy of Balenciaga. The luxury fashion brand has come out with a large blue tote bag that bears a striking resemblance to IKEA’s Frakta bag.

While Balenciaga hasn’t said the IKEA bag served as inspiration, their Arena extra-large shopper tote bag comes in a familiar blue hue and features a pair of short and longer handles. Of course, the Balenciaga version is made of blue wrinkled, glazed leather and comes with a $2,145 price tag.

 Balenciaga Reveals $2,145 version of IKEA's classic blue tote bag

“We are extremely flattered to seemingly be an inspiration for the latest catwalk designs for Balenciaga,” said Stella Monteiro, sales leader for IKEA UK and Ireland. “Our IKEA Frakta tote is one of our most iconic products which are already owned and loved by millions – now the many people truly can get the designer look for less.”

 Balenciaga Reveals $2,145 version of IKEA's classic blue tote bag

Made in Italy, additional touches of luxury include a gold-stamped logo and an interior keyring lanyard.

IKEA’s popular Frakta bags were originally designed by siblings Marianne and Knut Hagberg. They are made from synthetic material polypropylene, making them suitable for uses ranging from waste disposal to storage for clothes.

 Balenciaga Reveals $2,145 version of IKEA's classic blue tote bag