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Trend Alert: The Envelope Clutch

Leave it to mini mogul Ashley Olsen to dress for business while everyone else was wearing flirty frocks at the Sex and the City New York premiere. And that is why we admire the fashion maven moiety. But what's really smart here is her Calvin Klein envelope clutch. It's slick, serious and sophisticated. How does the line go? "I have a head for business and a body for sin." Yes, she does.

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