A $170,000 Handbag Arrives at Miami Art Week, Engineered Like a Supercar

Abel Richard, a new Italian-made handbag brand founded by entrepreneur Abel Richard Bullock, is making its debut during Miami Art Week with the Chrono, a handbag that starts at $170,000.

Its price tag is tied to technology. Each Chrono requires months of production, combining aerospace-grade carbon fiber, proprietary titanium alloys, ceramics and kiln-fired enamel work, all hand-finished by artisans in Bassano Del Grappa.

“The amount of hours and months it takes to make one bag is just unbelievable,” said Bullock, a self-made American biotech founder who began his career creating kiln-fired enamel writing instruments before launching Abel Richard as chief executive officer. Based in Arizona, he leads biotech firms Vetek Labs and Surgenex.

“The idea is to develop something that will last 1,000 years, that will still be beautiful 1,000 years from now,” he said of the bags.

Chrono is one silhouette in a lineup of sculptural handbags and is available in three styles. Other designs, featuring ruby detailing or substantial titanium components, can climb into the $300,000 range and up.

“Some of our bags have over 400 components,” Bullock added.

Many of the pieces are engineered with microscopic precision and measured in microns, a unit so small it’s used in medical devices and high-end watchmaking.

Bullock explained that the leap from writing instruments to handbags was always rooted in materials: “The advancements of yachting, Formula 1, race cars and things like that, now we have high-tech materials that are lightweight, that we can make something really special.”

Even so, the resulting designs have a notable weight. It was a challenge to optimize the components and reduce the weight as much as possible, he said.

Bullock is also a majority owner of Montegrappa, the Italian maker of fine writing instruments founded in 1912. His connection to the house extends into Bullock’s retail strategy, with both brands sharing space inside new boutiques.

In Beverly Hills, the brand’s first store opened quietly in October on Via Rodeo Drive, where Abel Richard and Montegrappa sit side by side in a museum-like showcase of bags and pens set against marble and sculptural lighting. In Miami, the scale expands with a 3,777-square-foot Design District boutique, opening to the public during Miami Art Week.

Montegrappa CEO Giuseppe Aquila said the company is using the shared retail footprint to introduce a new chapter of its own.

“With the retail extension, we are doing a brand extension,” said Aquila. “So, from pens, we are launching products…a line of luggage, from trolleys, duffel bags, weekenders, backpacks. We’re going to introduce shoes as well. And cashmere goods.” Everything will continue to be crafted in Italy.

The retail plans are ambitious, with stand-alone boutiques scheduled to open in New York, Scottsdale, London and Dubai in early 2026. Each location is being designed by Italian firm 2A Architetti.

“We’re going to get 50 locations in five years around the world in the top of the top places,” said Bullock.

New York will be unveiled next, at 7 West 57th Street.

“In Billionaires’ Row, across from the Aman hotel and two doors down from Bergdorf Goodman,” he smiled.