India, May 22 -- It's a bag made of cotton - the kind you would find in almost every Indian household. Emblazoned on it, in bright colours, is the name of the business that handed it out. It is the kind of bag that every Indian kid has grown up seeing, the one that would still inspire nostalgia. And now it's being sold for $48 on the American luxury retailer website Nordstrom.

The "Indian Souvenir Bag" by Japanese brand Puebco is marketed as a quirky, upcycled accessory - but for many Indians, it's simply a grocery bag they've used for years, now rebranded and sold at a luxury markup. The bag, usually available for free with a purchase in India, is sold for $48 ( Rs.4,100) on Nordstrom.

Designed by Puebco and retailing on Nordstrom, the...