Despite the fact that most moms can't afford an 'it' bag of their own, a small sector of high-income earning families from around the world are fueling a luxury back-to-school boom for kids. From a $115 Lanvin pencil case to a pair of $265 Gucci high-tops and even a thousand dollar silk Dior party dress, parents with money to burn are schooling kids on high-fashion before they hit the books. The average parent, by comparison, will spend an estimated $700 on back-to-school shopping this year. That's about the cost of one backpack, courtesy of Gucci.
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