Just when you thought that the Proenza Schouler PS1 had come in every version that you could possibly imagine, the minds behind Proenza Schouler have reinvented their staple satchel yet again. The Proenza Schouler PS1 Tiny Bag sits between the classic Medium version of the bag and the top handle-lacking PS1 Pouch, and it fits perfectly with the huge, ongoing trend of designers shrinking down their signature pieces for a crossbody-loving consumer market.

At ten inches wide, this “Tiny” version of the PS1 isn’t, well…tiny. It’s small, for sure, but it’d still be a perfectly functional day bag for anyone who doesn’t hoard things inside her bag. (And if you’re that person, no judgment.) The medium version is only two and a half inches wider, and although that’s a noticeable visual difference, this small version will fit your wallet, sunglasses, phone and keys with room to spare. The bag also features almost all of the storage compartments of its larger sister; the most obvious difference is the lack of a zippered pocket to the rear, which is replaced by a smaller patch pocket. The bag also lacks a second zip pocket inside the large front pouch, but as someone who carried a PS1 for nearly two years solid, I doubt many people will miss that part. I rarely opened mine.

Beyond that, the biggest difference is price. At $1,475 in both suede and leather, the tiny version comes in at $225 less than in its next larger counterpart. If you’re not someone who packs her bag full, that might be $225 worth saving. This bag comes on the heels of the Proenza Schouler PS11 Tiny Shoulder Bag, which was particularly little and perhaps not suited to regular use the way this “Tiny” bag will be.

Proenza Schouler PS1 Tiny Suede Bag
$1,475 via Proenza Schouler

Proenza Schouler PS1 Tiny Suede Bag

Proenza Schouler PS1 Tiny Leather Bag
$1,475 via Proenza Schouler

Proenza Schouler PS1 Tiny Leather Bag

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