Ah OK so there are bales on either end but it adjusts as well. I've shortened a couple straps on my Bazar bags. I've added holes, you have to thread the studs through the O rings, see if these pics help to explain it...
This is how your strap would look normally on the end with the stud adjustment (the Bazar doesn't have bales so use your imagination).
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Undo your studs and pull them through the O ring.
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Now determine where you want to punch new holes according to the strap length you desire.
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You can see my new holes are way up the strap. That's because the XS Bazar is a cross body and I was adjusting it to be a shoulder bag. Use one of the small leather loops to secure the end of the strap.
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The hardest thing to do here is to make sure the distance between the new holes is the same as the distance between the studs, otherwise you get a bit of gap, as you can see here with my silver Bazar strap.
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The other thing is that if the studs are up on your shoulder you can feel them a little (I have bony little shoulders so I notice more than some would I think). Here's the tool I use to punch holes.
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Hopefully this makes sense. Keep in mind the the minute you add holes you decrease resale value. But I wanted these bags usable for me so I went ahead and did it.