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I have this bag. i use it as a purse. i havn't used it in a while,but just from the picture and your description makes me want to pull it out again. THANK YOU!!This is my workhorse! Affectionately known as 'Big Lou'. I love to travel with the Speedy 40 because, while it qualifies as a 'personal item' according to the airlines, I can pack it like a small piece of luggage. It allows me to travel with three LV purses to alternate during my trip - I just put Eva inside WC Papillon, then sit Paps into Big Lue, and wellah, 3 purses safely onboard with me. And still, I can fit other items in with the 3 purses as well.
I also tend to sport the 40 on bad weather days (it's seen rain, snow & hail). Big Lou keeps my umbrella and necessities handy, will shield other items (I've tucked my MacBook laptop in there in a pinch) and, since it's already started to patina, I don't worry about the vachetta.
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My favorite aspect of this thread is that your collection isn't preserved, it isn't a museum of leather goods- it's feels like a work & travel pamphlet on the best ways to haul your stuff around the globe. I love seeing people live "with" a Louis Vuitton bag, not toting it around like a precious flower.