That special occasion is fast approaching, and you need the perfect accessory to complement your fabulous dress. You can't just plop down a few thousand dollars for the latest Judith Leiber creation—but you can probably splurge on a Moyna bag that'll only set you back $70 to $200.

"Some of my bags have the same feel and look as a Judith Leiber, but it's not a Judith Leiber," explains Moyna designer and owner Moyna Singh.

Singh knows whereof she speaks; her trendy bags have been sold at high-class emporiums across the United States and Europe, in such giants of retail as Barneys New York, Bergdorf Goodman's and Henri Bendel. And if you read magazines at all, you've probably seen Singh's wares: Her bags have graced the pages of countless magazines, from Real Simple to Cosmopolitan to US Weekly.

A clutch situation
How did a psychology major from New Delhi get into the handbag business and onto Fifth Avenue? When Singh moved to the States years ago, she worked in what started out as a home accessories business that branched into handbags. "We found there was a trend toward fashion accessories and handbags, a few years back when Prada and Fendi [bags] were heavily embellished, [with] detailing that's very traditional to India," she says. So her company began producing accessories.

Six years ago, Singh branched out on her own, deciding to enter the accessories action. "I found the workmanship and artisans in India. If you could adapt their craftsmanship and creativity to the western market here, there's a great market." As Singh puts it, her bags fill a unique niche in the American handbag market: "There are inexpensive, mass-merchandised bags, and there are expensive, top-designer handbags. You've got really expensive Stella McCartney and Badgley Mischka. There's a market where people are looking for good-quality couture [inexpensive] bags, and I'm able to capture that niche market."

Riches for rags
Singh provides high-quality couture at prices that are much lower than what other designers command. But that's not to say her bags only attract the budget-minded. Singh notes that many of her customers are people who also own the more expensive designer bags, as well.

Singh is quick to point out that her success is also due to the good rapport she has with her factories in India. "A lot of the factories hadn't done handbags before, but they had the beading experience and workmanship, and they were able to adapt," she explains. Singh designs all of the bags herself and sends the sketches to her four factories, each of which has a different specialty. But Singh, who tries to bring her workers to New York at least once a year, also gives them tremendous credit. "I can give them the designs and a certain level of input. But the factories have to have the ability to transform the final beaded product. I don't send them every thread. I can tell them to choose fuchsia, but there's a ghastly fuchsia and a pretty fuchsia. They're very good in their ability to interpret my design. I'm very fortunate."

Works of art
In addition to evening bags, Singh also produces hairbands, picture frames, shawls and an extensive bridal bag collection. One of her most rewarding experiences occurred when a woman bought a Moyna bag for her sister who was getting married and added a note that read, "I hope you can pass this on to your daughter someday." Singh was beyond flattered: "For my bag to be viewed as something that can be passed on to the next generation makes it very, very special."

Even though spring is technically yet to begin, Singh is already showcasing her fall bags at various trade shows. Moyna's top sellers this season consist of raw silk with mother-of-pearl, seashell and semi-precious stone detailing. Fall will bring velvets and the colors burgundy, navy and olive and emerald green.

So what keeps Singh going in the high-pressure world of fashion, where buyers start looking two seasons ahead? The inspiration, of course. "What gives me the most joy is seeing the first group of interpretations and samples, and how the designs have transformed from being a concept to being a very beautiful product." One thing's for certain—Moyna's bright future is in the bag.