In Garosu-gil, an upmarket district of Seoul where designer stores line the leafy boulevards, “It” bags are an obvious declaration of South Korea’s love affair with all things luxury. For proof look no further than Asia’s first museum dedicated to handbags, opening on July 19.

Built by the Seoul-based luxury bag producer Simone, the Simone Handbag Museum is part of a new 10-floor building called Bagstage, in the shape of a top handle shopper and dedicated to the accessory. It houses a shop selling bag materials; workshops where new Korean designers can work rent-free; a section where craftsmen will produce bags; and two shops, including a new multi-brand handbag store from Simone, which will also sell the company’s new bag line, 0914. However, the museum itself goes well beyond designer arm candy, looking back over 500 years to explore the origins of the accessory.

“Handbags and accessories have usually played only a supporting role in fashion exhibitions,” says Dr Valerie Steele, director and chief curator for the museum at FIT. “It is terrific news that there is a new handbag museum in Korea. I look forward to seeing it because fashions in handbags have changed dramatically over time.”