A recent Time Magazine piece by Kate Betts looks at what produces a Chloé Paddington or a Louis Vuitton mahina – bags that every fashion insider has on their arm…or is impatiently on a waiting list of the same length. These bags can contribute a staggering amount to a company’s bottom line for the year – such as a cool $300 million from sales of the Murakami. Small wonder fashion houses pay such close attention to which celebs are seen with their bags, and the bags themselves – such as the signature, if odd, dangly closure that transformed last season’s Fendi Spy bag into a megahit.

Mulberry (and former Vuitton) designer Stuart Vevers maintains that “it” status is simple luck – Kate Moss put Mulberry on the must-have map after being photographed in London sporting one of the company’s slouchy Roxane duffels – explaining, “I don’t think you can create a hot handbag every season. You have to wait for your time.” However, Reed Krakoff of Coach relies on the right balance of three ingredients: price, fabrication, fashion. Their own best-seller is a shoulder tote inspired by a Coach duffel from the 1960s that appeals to both younger fashionistas & their moms. “If we create a handbag that everyone wants and then they also say, ‘Great price,’ then we’ve hit on something,” he notes. For next season, Krakoff and his team are planning more tailored looks and burnished leather that keeps aging.