1950s Vintage Margaret Smith Handbag in Palm Beach Blue! Condition: Vintage, Pre-owned Size: 10 (W) x 8(H) x 4 (D) Handle Drop: 4 1/2 inches Lined: Purple Satin Features: Interior Zip Pocket Closure: Vintage Gold metal Margaret Smith founded her handbag company in Maine in the 1940s, at the suggestion of friends she had made beach totes for as gifts. Her brother, financier Cyrus Pinkham, and professional designer Bill Waters helped her launch her business, eventually joining her full-time as it rapidly expanded (at its height, the company had over 30 employees). Typically designed with floral prints, her bags were sold in women’s specialty shops and, in the 1950s/1960s, by Bonwit Teller.