A pair of nested handbags includes an outer handbag and an inner handbag that is contained within an inner compartment of the outer handbag. The outer handbag has a reversible body and thus offers two different appearances depending upon how the outer handbag is worn. The outer handbag includes first and second handles that are attached to the outer handbag is such a way that the handles have the same appearance when the outer handbag is worn in either the first or second appearance.