Gucci created a limited edition bag collection for Summer 2011, which will be exclusively sold in the flagship stores in Capri, Cannes, Marbella and Monte Carlo.

A different color for each boutique: sea green for Capri, lavender for Cannes, orange for Marbella and bright red for Monte Carlo.

The collection consists of three elegant proposals: the Tote Bag, a casual-chic shopping bag in caracas raw linen fabric and leather trims; a practical zipped wallet and a beige pashmina shawlwith the color of the boutique where it is sold.

A designer has reinterpreted the concept of wine-in-a-bag for the sophisticated, female oenophile in the form of luxurious French goatskin and Swiss workmanship.

Claudia Eicke’s Weekender bag is for the wine-loving female who routinely carries a bottle of vino in addition to her lip gloss, smartphone and day planner.

Made from natural grain goatskin from France, bottles can be tucked securely in the “tunnel” portion at the bottom of the bag which were specificaly designed to be stiff to prevent the wine from budging out of place.

A handbag that once belonged to former British prime minister Margaret Thatcher was sold for £25,000 at auction at Christie’s in London Monday.

Thatcher frequently used the black Asprey bag on important occasions, such as summits with then US president Ronald Reagan and Soviet leader Mikhail Gorbachev during her 1979-1990 premiership.

The former leader dubbed the “Iron Lady” donated the bag to her Conservative Party’s ex-lawmaker and author Jeffrey Archer for a charity auction.

It takes a lot of time and dedication for a luxury brand to establish an ‘it’ bag along the lines of a Mulberry Alexa or a Hermès Kelly bag, but when Chanel launches a whole new handbag range, you can be almost certain, they will be instant classics.

The new collection will draw inspiration from an androgynous style based on a hunter’s cartridge that founder Coco Chanel used to wear herself.

“Chanel used men’s underwear to make dresses,” the house’s creative director Karl Lagerfeld explained. “She had this boyish attitude, in fact it is the very spirit of Chanel. She got it from Boy Capel, the great love of her life…”

We brought you Blake Lively’s debut Chanel ad earlier in the week and now we’ve got our fingers on the full campaign for the Mademoiselle handbag line.

Karl Lagerfeld personally chose Lively for the campaign, calling her “an American dream girl,” and shot the photographs himself at Chanel’s Parisian headquarters.

The New York Times reports that Lively passed on other modeling opportunities, saying, “Thank you so much, but I am holding out for Chanel.”

Blake Lively was hired to be the spokesmodel for Chanel Handbags print campaign and now the first image has appeared online.

The ad, shot by Karl Lagerfeld, has the Gossip Girl against a set of mirrors staring at the viewer from her reflection and carrying the new Mademoiselle bag.

In contrast to singer Lily Allen’s playful Breakfast at Tiffany’s–inspired ads, Lively’s campaign feels edgier and more sophisticated, with a moody, Hitchcockian tone.