Jil Sander's Market Bag, $740 at Net-a-Porter. Courtesy Photo

In a world where women carry handbags worth more than people's homes, it is refreshing to come across a luxury bag that isn't so luxurious.

Jil Sander's Market Bag -- a transparent acetate carryall that rejects the additional hardware, tassels and straps that "it bags" tend to feature -- was designed by Raf Simons as part of the spring 2011 collection. The simple shape, combined with intense and perhaps bordering on obnoxious color choices, sent editors and the rest of the fashion industry into a tizzy. Unlike anything prior, Simons took minimalism to the max, and blew everyone out of the water with his groundbreaking design.

Dubbed the "utility bag," the simple sac boasts only one obvious marking -- a detachable tag with Jil Sander lightly imprinted.

We're smitten by the purse's functionality and understated glamour -- and it's no surprise that retailers caught wind of the bag's mass appeal.

Whether it's playfully inspired by a garbage bag a la American Apparel, or featuring punkish studs like Officiene904's piece, it's almost necessary for you to bag this style.

American Apparel large emergency bag $15, H&M tote, Officine 904 studded market bag, Twelfth St. by Cynthia Vincent grocery bag $192.50. Courtesy photos.