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World Gone Mad: People Pay $1500 For Furry Purse Pets - Bloomberg

A crowd of fashion industry insiders whipped out their phones as a pair of bizarre attendees popped onto the runway just before Fendi's Milan fashion show earlier this year. One was dressed as a chipper pink bug with giant crystal eyes; the other, a surly blue fuzzball with a resentful stare. Both looked as if they’d wandered out of a child’s fantasy land. Waving as they twirled down the runway, the Fendirumi, as they’re called, took their seats and waited for Kendall Jenner to lead the models onto the catwalk.

It was a silly stunt from a serious fashion label, but one based on some serious money. Those monsters aren’t mere curios–they have corresponding products, namely keychains meant to dangle from the handle of a really expensive handbag. The tiny versions of those mascots cost $1,500 each and are just two in a full line of freaky beasts and trolls that have sparked an international fashion trend. Other so-called bag-bugs, like a six-inch mink and fox-fur cyclops,...