Handbags are among the accessories driving the fashion world today, and newcomers are diving into the market almost daily. There are so many names in the luxury handbag market today, which tells us that they have to work harder to stand out — “the wealthier the consumers are, the more unique they want the bag to be,” said Milton Pedraza, chief executive officer of the Luxury Institute in New York. The firm has released its “Handbag Brands 2008″ report analyzing which of 26 brands consumers are most familiar with. From Coach to Hermès, the top 12 run the gamut in terms of price. “As far as status goes, this is probably one of the most important fashion categories — it’s the one that really shows off who you are, no matter how you are dressed,” said Pedraza.

The Luxury Institute of New York has compiled the list of 26 luxury handbags brands and the most recognizable by the consumer. The result shows here: