Trend Alert: Big Splurge

The "It" bag of the moment

All the "It" girls in Tinseltown know that the sexiest arm candy this season is not a Hollywood hunk but a Chloe bag. The roomy, sturdy Chloe Paddington bag, designed by Phoebe Philo, comes with a working brass padlock and key. It's hand sewn from supersoft Italian calfskin and comes in a range of colors. Mischa Barton, Kate Bosworth and Nicole Richie have been seen sporting the tan tote, Tori Spelling has one in red and Nicky Hilton has it in olive green. But before you break your piggy bank to buy your own (and you'll need a big piggy bank), be warned that it might be too late. This $1,310 bag is already sold out in most places!

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