Balenciaga or IKEA - IRL

Last spring Balenciaga debuted their "IKEA-inspired" tote bag retailing for US $2,145.

Balenciaga IKEA-inspired tote

IKEA then trolled them with an appropriately hilarious response.

IKEA - Balenciaga Response

Old news.

Except it became new again this summer when LBC was confronted with this bag conundrum head-on:

So is it IKEA or Balenciaga? LBC didn't see any discernible yellow text on the strap. We tried to get close enough to confirm, but didn't want to come off like creepers. After all, there were children present. LBC decided it just wasn't worth the risk, so we'll have to let this one keep us up at night. Thoughts? Balenciaga or IKEA?