By now it is safe to say that the Telfar tote bag changed fashion as we know it. Since they first launched, every single drop has sold out, and the pieces are so popular that the label even started doing the "Telfar Security Program" which allowed fans to pre-order any size and color. Most recently, the "Corned Beef" colorway sold out before we could even blink.

Now, there's a new bag on the block.

Announced last night during Telfar's New York Fashion Week show, the new bag is made in a round shape, with the label's recognizable "T" logo in front. It comes with a crossbody strap, as well as handles, and is made with faux leather just like the tote bag.

However, this bag comes with a price tag that has had fans divided.

The Telfar Tote has become a favorite because of its reasonable price – retailing between $150 and $257 – making it an affordable luxury that fits Telfar's message: "Not For You – For Everyone." The round bag, however, retails at $567.

"Y'all trippin' on this price," "$567 for faux leather? It’s cute but not $567 cute," "I was excited…but now I’m over it. Good luck y’all," were some of the comments under Telfar's announcement post on Instagram, with plenty of fans echoing the sentiment that the bag is too expensive.

On the other hand, there were plenty of people willing to pay the price, who were beyond excited about the new silhouette.

If you're looking to get your hands on the latest Telfar, the bag is currently available on the label's website and retails at $567. Oh, and Telfar has introduced Klarna now, too.

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