The price of exclusivity is worth paying when it is for a good cause. Fendi has teamed up with a group of iconic British (and adopted British in the case of Jerry Hall and Gwyneth Paltrow) women to each customise one of Fendi's equally iconic Peekaboo bags.
Only three of each design will be made: one to be held in the Fendi archive, one to be given to the celebrity collaborator and one which will be auctioned online during May.
This gives everyone the opportunity to bid for a bag that only they and one other person will carry, and that other person could be Adele, Paltrow, Georgia-May Jagger and her mother Jerry Hall, Tracey Emin or Cara Delevingne. There are 10 collaborations in all.
The project is to mark the opening last Thursday of Fendi's London flagship store in New Bond Street. When Fendi opened in Paris last year it held an exhibition of Karl Lagerfeld's photographs of fountains and funded the restoration of Rome's Trevi Fountain.
For the Milan opening, the company staged an exhibition about Fendi in film at the cinema in the Via Manzoni. Its most recent collaboration was the furs in the film Grand Budapest Hotel.
For London, it is donating the proceeds from this auction to the Kids Company, the British charity founded by Camila Batmanghelidjh, which gives practical, emotional and educational support to 36,000 vulnerable inner-city children in London and Bristol.