There are handbags and then there are handbags. And then there’s Chanel. The Chanel 2.55, to be more specific.  From the ever expanding brigade of young and precocious fashionista bloggers and their swelling coterie of online fans, to the more established style mavens, stylistas and your every day fashion hags, the Chanel 2.55 invokes delight on every front. It is a classic in every sense of the word. In fact, you could even say that it is the classic handbag. The 2.55 is in the covetable position of being one of the most influential fashion icons history has seen. This divine piece of work, with its oh-so-classy flap over and indispensible chain strap, was designed and conceived by Ms. Gabrielle Bonheur ‘Coco’ Chanel herself.

For those who don’t know the glorious history of this timeless fashion accessory, here’s a short run down of the life and times of the Chanel 2.55 handbag. It all started out when young Coco Chanel was growing up, a child of a travelling salesman named Albert Chanel and his wife Jeanne Devolle. Her mother took Coco out as she went shopping for clothes at various tailors around the city. This is where the young girl’s love of all things sartorial began. Unfortunately, when she was still quite young, Coco’s mother died of tuberculosis; the fateful event left Coco and her siblings in the care of their father. A few short months following the death of his wife, their father, Albert, left to work and provide for the children, leaving Coco and co. to fend for themselves in an orphanage. There, it is said that the girl withdrew into herself, drawing pictures; however, it is in the orphanage where the young Coco learned the art of sewing.

Coco’s time in the orphanage had a huge impact in her later work. The double chain shoulder strap affixed to the 2.55 is taken from the key chains that the orphanage caretakers would wear dangling around their waists. The inside lining is colored brown to represent the convent uniforms Coco had to wear while she was growing up. However, more than just Ms. Chanel’s fantastic childhood inspired the bag. The inside of the front flap contains a secret compartment where Coco surreptitiously stashed her love letters from one Hans Gunther von Dincklage, a purported Nazi spy who arranged for Coco to bed up at the Ritz Hotel during the war; she would call the Ritz her home for more than thirty years, even during the Nazi occupation of Paris. Perhaps, her war time experience swayed her to create another clandestine compartment within the 2.55. There is a secret pocket in the back of the bag, located on the outside flap; here is where Coco would hide a little bit of extra money, just in case. The quilted material from which the 2.55 is made was inspired by the coats worn by horse racing jockeys. The interlocking CC clasp on the front of the bag is called the Mademoiselle lock, as Coco never married.

While the name of the bag sounds eerily zeitgeisty, especially in these wired web 2.0 years, it is actually nothing more than a simple date. The two is for the month of February, and the 55 stands for the year 1955; what you have is the date the bag was first released. Coco designed the bag for her own use, so some of its features were avante garde for the time. Take the double chain interwoven with leather strap; up market handbags of the era weren’t so practically equipped; however, Coco wanted to keep her hands free, to be able to hold a glass of champagne, perhaps. Whatever the case, Ms. Chanel saw nothing unfeminine about being able to use one’s hands, challenging the notions of the day & pioneering shoulder handbag styles for the future.

The bag was reissued in the fall of 2005. The new version is slightly updated with fresher, more modern material; also has done away with classic version’s CC Mademoiselle clasp and replaced it with a rectangular turn lock. The bags released in 2005 are called Reissues. There are other similar 2.55 style bags labeled as Classic Flaps. Classic Flap sizes are different than the Reissues, but it is quite easy to confuse the two if you’re not an expert. The Reissues themselves are exactly like the original 2.55 design except for the clasp. Also, Reissues have an all chain strap, whereas the classic version has an interwoven leather and metal strap. Reissues, moreover, have a double inside flat. The Chanel Classic Flap bag comes in three sizes and ranges in price from about $1500 to $2000. The Reissue comes in various sizes and is pricier.

Whether its slung over a thin, gauzy black dress hugging a gamine frame, or whether hanging lightly from a thin shoulder whose owner is decked out in long, ripped jeans, an oversized boys t-shirt with the words heaven and hell etched out in thick, inky sharpie pen scrawls and a layer of silk and cotton kuffiyeh scarves wrapped biliously around the neck in premium boho style (can we say Olsen or Mischa), this bag simply works. It’s classic, it’s edgy. It is what you want it to be. The Chanel 2.55 is a girl’s best friend. The hefty price tag is well worth it. The 2.55 is eternal. It comes in a variety of different shades, from luscious red to deep, jet black.

Unsurprisingly, the bag is a favorite of many young Hollywood starlets.  The list includes Blake Lively of Gossip Girl, whose character Serena Van der Woodsen, incidentally has a few 2.55s herself, Paris Hilton and best pal Nicole Richie, Clemence Poesy and her Potter costar Emma Watson, vampire lover Kirsten Stewart, fashionista and one time OC star Mischa Barton, who has a few, La Lohan, and Kim Kardashian, among others.

The bag is more popular today than it was when it first came out, way back in ’55. And rightly so. The 2.55 is a timeless classic. It’s understated, yet elegant and refined. It’s practical yet sophisticated. A must have, if you can afford it.

For those of you who are true Chanel fans, as a treat, here is the trailer for Coco Avant Chanel released in the UK in just over a week’s time, starring the gorgeous Audrey Tautou as Coco herself.

Doesn’t time fly? Now it’s time to prepare ourselves for what we’ll be buying, wearing and craving in Autumn & Winter 2009. Here’s what to expect:

Handheld

Clutch handbags are a key item for AW, which will take you smoothly into the Christmas party season. Chain handles are still an important look, although they will be wrapped around the hand rather than over the shoulder.

Don’t worry, for the hoarders among us, the oversized slouch is still very much about, but shorter, chunkier handles have evolved it into a handy grab – think doctors’ satchel look meets Mary Poppins’ capacity.

Tactile

It’s all about the look and feel, from butter soft slouch leathers, to squidgy quilting and studded hardware – you won’t be able to keep your hands off next season’s handbags.

Exotic Leathers

Whether it’s ostrich, snake or crocodile leather, expected to go safari next season with a range of exotic materials pioneered this season by Michael Kors. However, if you ask me, I’d much rather keep it mock-croc – blegh.

Vintage

Yester-year looks are still a big part of catwalk trends, although we’ll be travelling further back from the 70s & 80s inspired looks of S/S to the most sophisticated and classy styles of the first half of the 20^th century. Lanvin showed a beautiful collection of vintage box-shapes, while Hermes kept to what they knew best with a sumptuous Kelly & Birkin inspired range.

Quirky

Lagerfield at Chanel created a wonderful range of handbags complete with must-have contents (Ipod, headphones, perfume, lipstick, mirror & sunglasses) laminated into Perspex. Although, not the most practical thing to have graced the catwalk, I can’t wait to see how the clever people at Topshop translate the look into a wearable style for the High Street.

For the one lady we can always rely on for quirkiness, LuLu Guiness has released a new range to celebrate her 20^th anniversary, but for those of us who can’t afford the price tag, Accessorize at Monsoon do this cute alternative.

Embellishments & Detailing

I am overjoyed that those feminine touches that I’ve fallen in love with this season are here to stay for the rest of the year. All of you who invested in beads, buckles, pleats and bows have chosen wisely & if not, here’s the go-ahead to treat yourself to something pretty & girly.

80s Inspired Rock Chic

In contrast to above, faded denim, aged leather, buckles, studs and metal will all be red hot in Autumn & Winter. If you want to keep bang on-trend, inject your whole outfit with a laid-back Sienne Miller inspired vintage T-shirt & baggy jeans.

What exactly, is it, that makes an It bag, an It bag? What sort of brilliant combination of savvy marketing, glamour by mere celebrity association and outlandish price (the price tag of most It bags can easily be confused with a zip code) is at work to make these receptacles so cherished and desired?   Perhaps it’s the nomenclature—many of these bags sport delicate feminine names like Heloise, Beata and Mariah; still others are somewhat comically christened hobo, e.g. the Prada nappa guffre Antic hobo, while others remind you of a sweet, crunchy comestible, i.e. the Fendi Baguette. Or perhaps, it’s the tenuous lifespan; these things have a lifetime that equals that of a fly or moth. They are born and embark on a quick journey becoming blazingly popular, selling like pretty, leather hotcakes to those who could dish out a few grand, and then they die, just like that—one season they are in, the next they are simply out. Au revoir and auf wiedersehen. Whatever the reason for their alarming popularity, whether they be oversized clutches or elephantine tramp bags, named Zohara or Lachmin Pops, these purses own a high stake in the business of allure.

Let’s take a trip down memory lane and look at the It bags of times past. Arguably, the first It bag craze was started with the birth of the Kelly bag, designed by fashion house Hermes for Grace Kelly, actress and princess extraordinaire. The bag became famous after making an appearance in Life Magazine in 1956. The actress was using it to hide her pregnant belly from the prying paps; it didn’t work, but it did give the crocodile skin bag some great press. This bag has been called the greatest bag of our time. Celebrities, socialites and Kelly fans rhapsodize about the bag’s elegance, timelessness and clean lines. There are waiting lists to get this bag.

From the Hermes Kelly, we move on to the Hermes Birkin. Named after actress and singer Jane Birkin, this bag has been spotted on the arms of Victoria Beckham, Katie Holmes, and Kate Moss among others. Reportedly, the bag got its name after Hermes executive Dumas, sat next to Ms. Birkin on a plane and she complained about not having a decent bag for weekend trips.

The Fendi Baguette (don’t you just love the name), came out in 1999 and it was really the first It bag to create a furvor; many deem it to be the original It bag, in fact. The bag, designed by Silvia Venturini Fendi was quite small in comparison to the mammoth sized bags so popular today. It was designed to be an expensive piece of arm candy that would spice up any outfit. Today there are more than 600 versions of the Baguette.

The Chanel 2.55 is a classic. Designed by Ms. Coco Chanel herself, the patchwork bag was the first of its kind to feature a strap, freeing one’s hands to be able to read a book or sip champagne. It contained several surreptitious pockets, which were purportedly where Chanel would keep her love letters along with some extra cash.

The Dior Saddle bag looks like a saddle. Despite, or perhaps, owing to its equestrian aesthetic, this bag flew off the shelves in 2000. The bag comes equipped with a stirrup, buckles and spurs. It was extremely popular amidst celebs, equestrian types, and socialites, among many others. Designed by John Galliano, the bag revolutionized the industry with its whimsical, off beat design.

The Balenciaga Lariat is a big bag. It was designed by Nicholas Ghesquiere and his inspirations were motorcycles, robots, French Classicism, biker girls and perhaps the blues. The designer reportedly dispatched thirty of his beloved Lariats to heavy weight contenders in the fashion industry: Kate Moss, Sienna Miller, Chloe Sevigny and French Vogue editor Carine Roitfeld, were among the lucky few.

The Luella Gisele is so named after Brazil’s top model, Gisele Bundchen. It’s a huge bag, with again an equestrian theme, although it’s not as horsey as the Galliano model. It comes equipped with a cute heart label; while the original was a tannish brown in color, again reminiscent of our equine friends, a more feminine pink and white are available.

2003 saw the arrival of the Louis Vuitton Monogram Multicolore. The mouthful of a name didn’t stop the crowds from going nuts over this It bag. Designed by Japanese artist Takashi Murakami, this bag was sold out before it even hit the store floors. Apparently, Louis Vuitton’s phone lines were literally jammed with orders after the bags debuted on the catwalks. The bags feature the infamous LV logo in thirty three different colors. The handles are the only part made of leather, and yet these bags fetch a small fortune. This is probably the most copied bag in the world, which is ironic, considering Georges Vuitton invented the LV logo to prevent copyright infringement.

The Mulberry Roxanne, or Roxy as it is called by fans and devotees, is filled with some pretty obtrusive hardware—buckles, studs and a plethora of pockets. It came out in 2004 and, as was the wont of many companies of the day, a scarcity was staged to heighten the bag’s covetability.

The Chloe Paddington, named for the bear, perhaps, comes with a huge, cumbersome padlock which seems to say, I’m daring and eclectic, yet really, really trendy too. It’s basically shaped like a deconstructed doctor’s bag and is made entirely of leather. As with the Birkin and the Kelly, the waiting list for this beloved sack is quite long.

Marc Jacob’s Stam bag is so called after the Canadian model, Jessica Stam. It’s big and its billowy. It’s also chunky and teeming with useful little pockets, inside and out. It has a quilted exterior and a dolly bag fastening. It’s basically a composite of every It bag to date. Fans of the bag include ScarJo, Kate Moss and Lindsay Lohan.

The YSL Muse is sleeker and more demure than its more recent It bag bedfellows. It’s usually always sold out too, adding to its mystique. Countless actresses and starlets have carried this bag proudly.

These luxury designer handbags offer their owners status; and unlike clothes, there is no fretting or crying over sizes. And while these bags seem absurdly priced and outrageously transient, they still have a load of devotees backing them. Market fatigue doesn’t seem to have set in quite yet.