Founded by an unusually bold young entrepreneur named Adele Casagrande as a leather-goods business, which first opened in 1918, the house acquired its current name when she married Edoardo Fendi in 1925. Perhaps best known for its logo-laden accessories, Fendi consistently produces some of the world’s most coveted “it-bags.” Under the current direction of Karl Lagerfeld, each collection is all about extreme, almost decadent luxury tinged with irreverence and joie de vivre.