I have come across some very cleverly constructed wallets / purses lately. There seems to be a real feel for functionality in the air at the moment. And i think these are quite inventive and clever and focus on construction.
This one is from a vintage archive. I love the ultra thin leather string which pulls tight in mini gatherings formed by the rough concertina action.
This one above is equally as clever with its simple folding action and hardly any seams or sewing going on. Its by FRRY (i can't pronounce this brand for the life of me). It is a dutch company that i saw exhibiting a couple of weeks ago in Paris at Premiere Classe. This is their website : www.frrry.com. All of their products are seriously cleverly constructed.