Time Magazine broke a press embargo on the newest Bugaboo, the Bee. So, we are a little late to the party, but here’s the scoop.

Set to debut in September, the Bee is a mini-Bugaboo—it can be used from birth, has a flat-fold (with the seat) with one-button release. But the price? $529? Yes, it will still feature the rich protein flavor of Bugaboo’s euro-chic fashion, but $529? Wouldn’t a Mac or Peg do the same thing at half the price? And where is the basket?

Yes, the seat is reversible, so baby can face the parent or forward. And as daddytypes noted in a droll aside, the cup holder will be out in 2009.