Katie Holmes creates luxury bag

Katie Holmes has collaborated with Italian design house Valextra to create a luxury bag.

The actress and her Holmes & Yang fashion label co-founder Jeanne Yang will launch two versions of the calfskin tote, one in white and navy and the other white and black, which will retail for $3,950, in July.

Speaking about Valextra, Katie told WWD: "Their quality is exceptional. There's such integrity in their work - they're artists."

Valextra CEO Emanuele Carminati Molina revealed the company were delighted to team up with Katie and Jeanne because they admire the "simple but chic" style of Holmes & Yang.

He explained: "This was our first collaboration [and it's been] really incredible. We decided to follow the desires of Katie and Jeanne who wanted to have their own bag realised by Valextra. Because they love our products...and we wanted to see, and understand which style they were wearing. We understood that the style is simple but very chic, clean lines, sophisticated, with a lot of attention to the details. I knew that it was good for Valextra to try, and to mix our style with their style."

The entire design process only took two weeks with Katie meeting with the Valextra team when she visited Milan for Fashion Week in February.