Move over Balenciaga. There’s a new ‘it’ bag in town, and we’re dying to get our hot little hands on it.

Not only did Proenza Schouler have one of the best Fall collections this year with their spot-on color selections accented by plenty of sequins and textures, but this PS1 bag? It’s damn near perfect, which is probably why it’s been making the rounds on the arms of celebs and fashionistas alike for the last few months.

We’re also loving the clutch option in that soft leather and light beige. Quite yummy if we do say so ourselves.