Balenciaga New Product Launch: Balenciaga Bag Charm Keychain. Balenciaga Keychain, the latest model of bag charm with a higher-end design, is the same style as worn by celebrities. This classic collaboration design concept keychain series features a vintage finish with detailed craftsmanship, unlike the glossy versions available in the market. This item has been consistently released and is a best-selling piece within Balenciaga, making it a great complement to trendy backpacks.