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Alexander Wang—the man who has made a career out of turning everyday closet staples and household objects into luxury items—has set his sights on the beanbag chair. According to the WSJ. Magazine, this particular turn at furniture design is a collaboration with Italian label Poltrona Frau, and he's taken the staple of playrooms past, thrown some bougie leather on it, propped it up on brass, and called it "fancy pants." (Our words, not his. Wang is legitimately cooler than that.) The matte black glob will retail for $8,800 in stores come February. Get your finances in order because of course you want it. It is exactly what the playroom has been waiting for. Of course.