MZ Wallace Has Built a Successful Brand of Utilitarian, Untrendy and Unfussy Handbags

MZ Wallace built a successful brand with its utilitarian, untrendy, unfussy approach to accessories.

Monica Zwirner and Lucy Wallace Eustice, the founders of MZ Wallace, were in their offices on Crosby Street in SoHo recently. On the table in front of them lay fabric swatches and samples for an upcoming collection. But the pair had turned their attention to a look book they had produced over a decade ago.

“I’m scared to look,” Ms. Zwirner, 60, said. “This is so old.”

Ms. Wallace Eustice, 57, opened to a photograph of a shoulder bag. “That’s good,” she said cautiously. She turned the page to look at another picture of a purse. “And that’s

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