I enjoyed Lauren Merkin's distinctive pleated clutch purses when I first discovered them, but her formulaic designs became tired pretty quickly. So I'm thrilled to see her working with Michelle Fantaci, a designer who's breathed new life into the label with bags like the Essex.

While ...

These days a hobo is rarely just a hobo. The original crescent-shaped, bohemian-chic bag has given way to purses that are less slouchy and more sophisticated. The Essex is Etienne Aigner's elegant interpretation of the traditional hobo handbag.

Despite its slouchy top, the Essex has more structure than the average hobo. Its ...