Fendi, Schmendi

NEW YORK (Reuters) - Italian fashion group Fendi S.R.L. sued Wal-Mart Stores Inc. in U.S. federal court on Friday, accusing the world's largest retailer of selling counterfeit handbags and passing them off as genuine at its Sam's Club warehouse stores. In one example cited in the lawsuit, a black handbag bearing Fendi's trademark logo was offered for sale in a Sam's Club store in Miami for $508.25, 45 percent less than the retail price of $930 for a genuine Fendi bag.

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I don't know which is worse; that Sam's Club is selling the fakes for over $500, or that Fendi sells the real ones for over $900. In both cases, I think women have lost their minds. It's a handbag. Any bag that costs more than what could potentially be carried in it costs too much. Fifty bucks - that's the limit, I think.

It's odd that Sam's price is considered a bargain. $500 would probably buy about 1,700 rolls of toilet paper, which to me is a more practical use of the money. Besides, how many Sam's Club shoppers could tell the difference between a fake Fendi and a real one anyway - or even care? Apparently, none of them.

Good for Sam's, I say. They have recognized a market and targeted it. They passed off seemingly genuine merchandise to an unwitting public at what is perceived to be an incredible bargain, and made a huge profit. Hurray for capitalism.

I say, if you're stupid enough to (a) pay $500 for a handbag and (b) buy a Fendi at Sam's, Fendi should be suing you for carrying the thing to begin with.