Mary-Kate and Ashley Olsen's The Row Debuts $55K Crocodile Backpack Adorned With Pills (Video)

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The Row, Mary-Kate and Ashley Olsen's high-end fashion line, has teamed up with artist Damien Hirst on a limited-edition line of black patent, Nile crocodile-leather backpacks.

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The 12 bags, which were created for L.A. gallery-boutique and e-tailer Just One Eye, feature gold hardware accents and are adorned with either Hirst's signature spots in gold or various colors -- or an assortment of prescription pills. Each bag has been signed by the artist. (Watch the video below to see more.)

The bags go on sale Wednesday. A portion of each sale will benefit UNICEF.

The partnership is the first in a series of artist/designer collaborations commissioned by Just One Eye that aims to "blur the line between high art and high fashion."

"We are longtime admirers of both Damien and The Row’s work, and our main focus here is to nurture work between artists working in different mediums,” Just One Eye co-founder Paola Russo says in a post on the company's website. "We couldn’t have dreamed of a better way to debut this series of partnerships."

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Up next is a collaboration between Converse and artist Nate Lowman, who is painting 25 pairs of the shoes for the store. Major League Baseball star Alex Rodriguez is a collector of Lowman's works.

Meanwhile, this isn't the first pricey backpack from the Olsens, who earlier this year won the Council of Fashion Designers of America’s top honors. In June, The Row debuted a $17,000 patchwork-fur backpack that drew raves from celebrity stylist Rachel Zoe but earned the ire of PETA.

Gail Speight contributed to this report.