…. and The Bag. One of the most iconic designer bags in the world is Coco Chanel’s quilted chain-handle bag, the Chanel 2.55; still as popular today as its initial creation in 1955. In the 1920s, Coco Chanel became tired of having to carry her handbags in her arms and decided to design a handbag that freed up her hands. Inspired by the straps found on soldiers’ bags she added thin straps and introduced the resulting design to the market. In 1954, Chanel decided to update her handbag, for the modern woman. The bag takes its name from the year of its birth, 1955 .