Handbags now account for 31 per cent of sales at luxury retailer Burberry and the five-figure price tag for its latest It Bag has not deterred its devotees.

Dozens of shoppers have signed up to waiting lists for the crescent-shaped, tote alligator-skin Warrior handbag. Prices start at£1,595 and go up to£13,000 for a gold alligator-skin version.

The retailer said that demand has never been stronger for its top-end creations, indicating that the luxury sector is continuing to weather the economic storm.

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