designer 'Scrunchies' are here but will cost you $244

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$244 for a Scrunchie!? That is definitely not a bargain.

Capitalising on the 90s fashion trend, Balenciaga released the brightly coloured scrunchies as part of its 2018 collection, lifestyle website Whimn reports.

The hair bands are officially called 'chou chou bracelets' according to Balenciaga, and come in pink, yellow, blue or black.

The label justifies the cost due to the high quality of materials and origin. The ties are made from lambskin and are manufactured in Italy.

Source: Newshub.