Olsens Launch 'Affordable' Handbag Line

Mary Kate and Ashley Olsen just won the CFDA award for their high-end line The Row, and now are focusing their attention on their contemporary line Elizabeth & James, specifically launching handbags. Mary Kate explains the pricing breakdown in terms of where they fit in the market: "We wanted the price point to be strong. The price point is below [Alexander] Wang and [Phillip] Lim but above Marc [Jacobs] and Tory [Burch]." Ashley added, "We wanted these bags to be affordable." That means the prices range from $125 to $395 for small leather goods and $395 to $625 for bags. Look out for these new treasures in July.

As for the next few years, the brand has a lot more in store. In 2014, Mary Kate and Ashley plan to launch e-commerce and a fragrance with Sephora, open a store by 2015, and then follow up with two or three more stores in New York, Los Angeles and South Florida. Stores in Tokyo, Seoul or London hopefully in the near future.