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Retail Roundup: The Olsen Twins' $39,000 Backpack Sells Out

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Ashley+Olsen in KW by Kanye West: Front Row - Paris Fashion Week Spring / Summer 2012

Mary-Kate Olsen and Ashley Olsen attend the KW by Kanye West Ready to Wear Spring / Summer 2012 show during Paris Fashion Week at Lycee Henri IV on October 1, 2011 in Paris, France. (Getty Images)more pics »
Fashion moves fast, but we've got you covered with all the latest industry news:

The Olsen's $39,000 backpack sells out. What recession? (The Row)
Remember that $39,000 backpack the Olsen twins designed under their label The Row? Well it seems its hefty price tag hasn't stopped it from selling out! According to WWD, Ashley says the alligator backpack was the first item to sell off the shelf, noting, "During our last economic crisis in the U.S., the only thing that went up was Hermes."

Kanye gave his fashion line "everything he had." (Bauer Griffin)
Although his collection has been panned by critics, Kanye West says he gave it "everything he had." According to MTV, during a Parisian fete for his new line, Kanye gave a speech saying, "This is my first collection. Please be easy. Please give me a chance to grow." Do you think the fashion industry will welcome Kanye back with open arms?

Everyone wants Taylor Swift's Christian Siriano gown. (Wonderstruck)
Christian Siriano can thank Taylor Swift for a serious sales boost. Orders for the ornate pink Siriano ballgown Taylor wears in her new Wonderstruck ads have shot through the roof! Siriano told People that his design team is struggling to make the Spring 2012 dresses fast enough for hungry consumers!

See Ashley Olsen's lookbook: