This time last year, everybody was going crazy over square bags such as Gucci's Sylvie and Fendi's Dotcom. Circle bags, such as the one from Mansur Gavriel, were also quite popular.

This is probably the year of the statement bag although the classics will always be around.

Balenciaga is making a lot of noise for its bags. Not all the noise is positive. But who cares? The bags are selling.

The "blanket bag" costs over $2,000 and it looks like those bags that blankets come in when you buy them.

The Balenciaga Striped Leather Shopper Tote Bag has been called a "bayong." There is an actual mesh version, by the way.

But perhaps the most controversial Balenciaga bag is the blue Ikea-esque one called Carry Shopper L that costs over $2,000.

Small bags and even so-called convertibles, which you can carry in different ways, are also quite popular. Maybe it's because women have realized that there is no point in carrying everything but the kitchen sink.

The Mini Alex Black Widow from Les Petits Joueurs is seen on the arms and shoulders of many "It" Girls.

The Louis Vuitton Palm Springs Backpack Mini is another in demand bag. In fact, it is difficult to find. At the LV stores in Singapore, there was a waiting list for it at one time. The backpack can also be carried cross-body.

But it's not all about expensive purses. We're happy that popular Japanese brand Anello is finally in the Philippines! In fact, the brand has just opened its Uptown Mall branch.

*Post photo from Purse Fiend