How did Coco Chanel's luxury quilted 2.55 handbag get its name?

In the 1920s, Coco (seen left) was frustrated at having to keep a purse in hand while socialising. How were you to flourish a cigarette, grasp a champagne glass and perhaps even dance a Charleston, while simultaneously holding a clutch? Her solution: adding a chain that allowed the purse to be perched over the shoulder or in the crook of the arm.

It was only several decades later that Chanel began to manufacture and market this innovation, with the month and year its design was finalised – February 1955 – giving the bag its moniker, 2.55.