At its inception, there was a single, visionary woman behind this brand—the legendary Gabrielle "Coco" Chanel. She brought chic comfort to women the world over. Her luxurious jersey and wool suits were such a pleasure to wear that everyone who could afford one bought two.

Then came the 2.55—a discreet, chic handbag, quilted and chained to reflect the interiors of Chanel's jackets. The name heralded its release date of February 1955. But when Karl Lagerfeld was handed the reins (or chains) of design at Chanel in the 1980s, he reinvented the bag with bolder, more glamorous touches. In keeping with the era, he supersized it. He emblazoned the gild metal double C. He exaggerated the chains. The result? Lagerfeld made the 2.55 a cult icon.

A consistent bestseller in every version—big, small, backpack, clutch, leather, tweed—there is nothing quite like the 2.55. There is no modern, stylish ensemble that couldn't be enhanced or complemented by this instantly recognizable quilted bag. Chanel's original creation has evolved into a fashion must-have. Simply put, every girl should have one—and borrow two.