When my best friend got her own place, instead of getting a present for the house, I got her that exact wristlet. She freaked when I gave it to her and couldn't stop talking about how excited she was that I got her that. She just got engaged a few weeks ago and now I'm trying to think what Coach item I am going to get her for an engagement present.
Honestly, how can you go wrong with Coach for a best friend?
I am sure an engagement gift isn't too far off for my friend, either (or me for that matter

