Article: Bolognese sauce: Furla's Giovanna Furlanetto is putting a little practical magic into her family's classic Italian bags.(Accessories Flash)

These days, fashionable women don't waste much time fretting over how to match their gloves with their suits. According to Giovanna Furlanetto, the chairman and chief executive officer of her family's 78-year-old accessories house, Furla, a more pressing modern question is how to locate one's vibrating cell phone, at night in a crowded club, when it is buried deep in a fabulous but densely packed handbag.

"Let's face it," says Furlanetto, from her office at the company's sprawling headquarters--housed in an 18th-century villa and former horse barns and surrounded by an immense park--on the outskirts of Bologna. "Women don't have time to change their bags ...

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