It Bag Returns - This Time With a Conscience

The rise of the It shoe - often with an attention-grabbing six-inch heel - and the squeeze on sales brought about by the credit crunch had all but consigned the It bag to history. But this week the trophy handbag fights back with a new accessory: a social conscience.

To mark World Aids Day today, a limited edition of the Mulberry Bayswater, one of this decade's most sought-after handbags, goes on sale in Gap stores this Saturday.

The Gap/Mulberry Bayswater, made in red sweatshirt fabric, will retail at £95, rather than the £495 at which the classic leather version is sold. Fifty per cent of profits will go towards fighting Aids in Africa. Emma Hill, creative director of Mulberry, who previously designed for Gap, said she wanted to "dedicate the bag to the cherished memory of those I have lost to this disease".

The Bayswater has attracted a celebrity following since its launch in 2000. Kate Moss has numerous versions, including one in green crocodile skin, one in white ostrich skin with "K" and "M" leather charms, and an oversize weekend version.

Daisy Lowe and Lily Allen have been spotted around town carrying a blue patent leopard-print Bayswater.

Two other high-profile collaborations have been included in the Product (RED) range at Gap.

An over sized cotton Roland Mouret scarf, produced from a prototype which formed part of the designer's first RM collection, and a tote bag in a classic Liberty print will each go on sale for £25.