Once upon a time, the relationship between high-end and high street style was more or less one-way. After the big fashion houses sent their creations out onto the runway every season, high street retailers would quickly scramble to produce more affordable pieces ‘inspired’ by catwalk trends. The idea of that influence flowing in the opposite direction – of niche designers taking their cue from major chains – wasn’t just unheard of, it was laughable.

But in the last few years, that relationship has begun to change. An increasing number of designers now look to the mainstream as an unexpected source of inspiration – and the latest fashion house to do so appears to have gone straight to IKEA.

Balenciaga recently launched its ‘Arena Extra-Large Shopper Tote Bag’, an oversized shopper made from “blue wrinkled, glazed leather”.

Featuring a gold-stamped Balenciaga logo and made in Italy, it retails for the princely sum of £1,671 ($2,145), and bears more than a passing resemblance to the classic Ikea ‘FRAKTA’ carrier bag.

Balenciaga is selling a £1,670 version of the classic big blue Ikea bag