If you have a Chanel handbag in your possession - distinguishing characteristics include a quilted, black leather body and a gilt metal shoulder strap - discard it at once.
Anyone found with such a bag on her person will immediately be classified as out of touch and hopelessly passee. What has been a staple item for many women over the past decade was superseded yesterday morning by Chanel's latest model: the 2005.
More than a year in development, the bag made its debut at the house's autumn/winter presentation. The 2005 takes its name from Chanel No 5 and the approaching millennium and bears absolutely no resemblance to its predecessor.
Ergonomically correct and futuristic, the bag's sculptured shape was inspired by a woman's torso turned upside down. Chanel's designer, Karl Lagerfeld, was reported before the show as saying: "It's for a totally new age. I've never seen anything like it." Frankly, neither has anyone else.
Why all the fuss about a handbag? The truth is that for all major fashion houses, accessories are big business. Companies such as Prada and Gucci may produce widely-publicised lines of clothing but these account for less than 25 per cent of their turnover. Leather goods, especially footwear and bags, are design labels' major global sellers.
For many years, the Chanel bag was an affordable and bestselling item. More recently, its share of the market has declined and the necessity to produce a fresh product became critical.
The 2005 is constructed to be super-light and still have sufficient room to accommodate everything a woman might require. Available in both leather and fabric, it will come in three sizes.
Once the 2005 comes on to the market in a few months, any woman still holding on to her quilted number will be stigmatised as a fashion dinosaur.
Inevitably, interest in the new bag tended to overshadow the clothes with which it was shown. These frequently looked less towards the next millennium than back to Chanel's apogee during the late 1920s and 1930s, although there were also clear references to the more recent Japanese interest in wrapping and draping of fabric.
This was especially apparent in day dresses of featherweight boiled wool which crossed over at the bust and tied behind. The Chanel suit in tweed was transformed into an old-fashioned riding habit with long skirt.
Brown herringbone was often used for suits and coats, most often with crisp accordion pleating. Mohair was also a popular choice, here woven into lilac or forest green tweed.
The show concluded with another look back at Chanel's glorious past, thanks to big, white satin shirts teamed with long, voluminous black skirts. If these seem a little beyond your budget, at least see whether you might be able to afford a 2005; that promises to be Chanel's most important contribution to the season ahead.
