L'Wren Scott claims her new $20,000 handbags are "well priced".

The designer has launched a new accessory, entitled the Lula, which comes in three sizes, small, large and weekend, and in a variety of materials - including red or purple calfskin, black or Pink python and Bordeaux crocodile - and with each bag accompanied by a matching Clutch, L'Wren insists they are value for money, despite the cheapest small bag costing $2,300.

She said: "For what you're getting, they're incredibly well priced. It's a forever bag."

Despite the range of luxury materials in the bags, L'Wren says her favourite thing about them is the noise the clasp makes.

She told WWD: "When you open it and close it, it makes sort of a 'woosh', like the first time you ride in a nice car and the door closes very 'woosh' and you go, 'wow.'

"I'm working on colours. And colours are so much about the light."

L'Wren named the Lula in honour of her mother and says the clasp reminds her of her parent.

She said: "I would always know when she was going out or if she just got back because even if she tiptoed in, I would hear her bag clip closing."