Penelope cruz chanel
Penélope Cruz arrives in head-to-toe Chanel to the 79th Venice International Film Festival. Courtesy of Pascal Le Segretain/Getty Images

Chanel just unveiled its Iconic Handbag campaign starring A-list actors and icons Brad Pitt and Penélope Cruz.

Creative director Virginie Viard was inspired by her love of film, choosing to pay tribute to the esteemed 1966 French drama A Man and a Woman, in which actress Anouk Aimée carries a Chanel flap bag, which falls over her shoulder, solidifying its powerful presence.

Viard's sultry black and white campaign was shot partly in Deauville, a seaside town where Gabrielle Chanel ran her own hat boutique and showcased her first haute couture collection in the early 1900s. Chanel's Fall 2024 runway also paid homage to the founder featuring streamlined silhouettes and pastel hues inspired by the Deauville sunset.

In the film, Pitt and Cruz take a sports car to dinner at an upscale hotel and take a romantic stroll on the beach with Chanel's Iconic Handbag on display to witness Cruz asking the waitress if she has any rooms available (just like in the original film). Cruz looks stunning with sleek old Hollywood-inspired waves and Chanel's sparkling, dangling double C earrings. The two icons are dressed in chic knits. Cruz in a turtleneck and Pitt in a sweater vest, a button-down and a suit jacket. Complete with signature quilting and a gold logo clasp, the handbag takes center stage flaunting its luxurious elegance.

The bag has transcended time and trends and remains one of the most highly coveted, cult-classic fashion items. While it retailed for about $1,000 in the 80s, the bag goes for a whopping $10,800 today. A result of consistent hefty price hikes that have doubled since 2016. The luxury brand is known for raising prices on all the classic items across its portfolio as demand remains high. This is also raising the prices across resale sites like Vestiaire Collective and The RealReal.

Crafted in 1983 by late creative director Karl Lagerfeld, the bag was designed as a new iteration of the 2.55 Flap. Lagerfeld modernized the style by adding the leather and metal chain that Chanel stans have come to know and love.

"The classic flap is an instantly recognizable status symbol that continues to gain value year after year," Jessica Henderson, VIP curator at Fashionphile, told Who What Wear. "If you are looking for a true investment piece to add to your collection, this is hands down one of the best options."

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