Abstract: Handbag with a magnetic flap closure arrangement both closes and latches the top of the handbag. The handbag has arcuate flexible side walls that expand when the front and rear walls of the bag are spread apart to an open position for the bag. The side walls cooperate with the flap arrangement to form a smaller opening that is closed by the flap arrangement when the front and rear walls are moved toward each other into a closed position. The two flaps of the flap arrangement are connected to the front and rear walls respectively, and extend toward each other when the handbag is in the open position. Both are flexible so that they can be pushed downwardly or upwardly to expand the bag opening and allow items to be inserted, removed or seen more easily. In their unflexed, rest positions one flap is lower than the other so that when the front and rear walls are moved toward each other into the closed position, the flaps overlap.