QUILT to LAST

How MZ Wallace has used timeless product design and careful pricing to build a $100 million accessories business.

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“I was on line at Dunkin’ Donuts, and there was a young girl in front of me. She had no wallet, just a teeny tiny slot on the back of her iPhone,” says Lucy Wallace Eustice, 60, co-founder of the handbag and accessories brand MZ Wallace. “I came over to her friends and was like, ‘OK, who's carrying wallets?’ and they take out wallets this big,” she says, pinching her thumb and forefinger together in the universal gesture for “teeny tiny.” Wallace Eustice thought, “Should we be addressing that?”

This laser-sharp focus on customers’ needs has kept MZ Wallace popular—and profitable—for nearly 25 years, with the brand crossing over $100 million in sales in 2024. Even if you're not familiar with the name, you probably recognize the brand’s signature quilted nylon bags on teens on their way to school, professionals on their commutes, new parents at the playground, and grandmothers out to dinner—not to mention celebrities such as Jennifer Garner, Sarah Jessica Parker, and Lupita Nyong'o.

Bags line the walls of a large conference room in the company’s sleek Lower Manhattan headquarters. They are mostly neutral variations of the brand’s core shapes—totes, backpacks, crossbodies, satchels—with pops of color and metallics. Its best-selling Metro Tote debuted in 2007 and has remained largely unchanged since. There’s nothing flashy about the bag. It’s a quilted nylon tote with understated leather accents that’s loaded with practical features: top zip, pockets inside and out, detachable crossbody strap, luggage sleeve, key strap, and a perfectly sized phone compartment.

“People love the bags so much because they function,” says Brenda Bennett, owner of Connecticut-based boutique Chou Chou, which has carried the brand for 15 years. “MZ Wallace understands how women use bags. They keep you organized. You can go out in the rain and get them wet. They’re items that make your life easier. Not to mention they’re very good-looking and wear forever.”