Hermes has its Birkin and Kelly handbags. Fendi, its baguette. Dior, its Lady Dior. And Tiffany?

The house long associated with diamond engagement rings, wedding bands and a slate of iconic jewelry designs from lock-and-key charms to sculptural designs by Elsa Peretti, Frank Gehry and Paloma Picasso is now aiming to find its place among the big players in the handbag market.

A limited number of pieces from the inaugural collection quietly slipped into Hawaii boutiques in the spring, causing a stir among cognoscenti who eagerly snatched up candy-colored and Tiffany Blue reversible totes in supple suede and metallic leather.

This fall marks the official debut of the Tiffany Leather Collection, with the full collection — ranging in price from $50 to $17,500 — in boutiques. Design directors John Truex and Richard Lambertson are in town to share their work at an open house at the Ala Moana boutique from 9:30 to 11 a.m. today.

Without a history of Tiffany handbags, Truex said he and Lambertson were free to invent.

"Tiffany’s been around since 1837, so to say we didn’t have anything to work with is a stretch," Truex said in a phone interview Monday. "We were inspired by Tiffany, going into the archive and looking at all its jewelry. But there were very few elements within the organization when it came to leather, so in that respect we were designing from scratch. We had to create all the hardware details, the pullers, the linings, the buckles. There were no restraints, no guidelines. It was all about trust.

"We knew we wanted a collection. We did not want it to be just about a bag, not about an ‘it,’ not just about a tote, but a collection for men and women that would make a statement, with a full assortment from day to evening bags, small gift items to collectibles that would be richly understated and fashion forward. A full jewelry box! No pun intended."

The challenge, he said, "was to come up with something new and different that’s signature Tiffany but also signature me."

In the mode of spring, the inaugural collection included an array of colorful and playful TRT totes. Fall turns serious with the addition of exotic leather and classic, sophisticated satchels like the Genevieve and Manhattan that one day might find their place among Tiffany’s icons.

But the making of an icon is out of the designers’ hands.

"That happens organically," he said. "You set out and do your best and hope the consumers accept it. But I think, in a short period of time, we are pretty close."

The TRT (Tiffany Reversible Tote) is already instantly recognizable as a Tiffany bag. Truex said the Morgan frame clutch is also a recognizable silhouette. Many of the pieces bear discreet Tiffany Blue-enameled and logo hardware in button-size snaps, closures and details.

"The collection’s only been around for a year, and you never know how people will respond, but I carry the men’s black tote all the time and people recognize it. Or, they’ll stop me on the street and say, ‘I really like that bag.’ Or I’ll pull out my wallet in Tiffany Blue and people say, ‘That’s really cool, where’d you get that?’ It’s a real conversation starter."

Sometimes he’ll even confess he’s the designer.

"I just say, ‘Well, I work for Tiffany,’ if people are interested. I just love the collection so much, and I’m so proud of it."

Truex said he’s looking forward to being inspired by Hawaii.

"It’s always nice to go into a new location, a new state," he said. "I don’t get much inspiration sitting at my desk day in and day out, but seeing lifestyles, cultures, the food, the way people move and socialize is really different from city to city. I’m packing my sketchbooks and markers. I’m ready to explore something new."