Finally, a guilt-free donut. Behold the latest from the conceptual think-tank Bless, who, along with Jeremy Scott and Charles Anastase, has overhauled the classic Le Pliage canvas bag from Longchamp. The collaboration celebrates twenty years of ANDAM, the French association that promotes emerging talent around the world, most recently awarding its top prize of €160,000 to Giles Deacon. Previous winners, the brainy Bless girls have gone utilitarian, adding a beige tubular handle. But the real magic happens when you follow the intricate folding instructions, and the bag collapses into a donut-shaped bracelet. Good enough to eat! $375 at select Longchamp boutiques.