Have you dreamed of being a handbag designer? Specifically, have you dreamed of designing the “IT” handbag that celebrities, bloggers and die hard fashionistas covet? Well, now you have a chance.

Have you ever dreamed of debuting that IT masterpiece at WWDMAGIC and having it as part of a capsule collection designed specifically for Saks Fifth Avenue?

Now we have your attention…

The Independent Handbag Designer Awards (IHDA), presented by InStyle and Handbag Designer 101,  today announce a call for submissions for the fifth annual IHDA recognizing excellence in design. Winners will be announced June 15, 2011. The IHDA will also honor Peter Dooney of Dooney & Bourke with the ICONOCLAST Award.

To apply for the 2011 Independent Handbag Designer Awards go to www.HandbagDesigner101.com/ihda and click on the “Handbag Awards” icon to submit your entry. Applications will be accepted through April 30, 2011.

The IHDA celebrate talented, emerging accessories designers. Now in its fifth year the event continues to grow, receiving nearly 1,000 submissions from more than 30 countries 2010. Previous award recipients include Katherine Kwei, Adriana Castro and FOLLIS by Catherine Meyer, whose pieces were featured in kate spade new york’s resort 2011 collection. 

Nine awards will be given in the following categories:

Best Handbag in Overall Style and Design: Winner will receive a booth at WWDMAGIC and the opportunity to develop a capsule collection for Saks Fifth Avenue.

InStyle Red Carpet Ready Evening Bag: Winning bag will be featured at InStyle’s Summer Soiree event in Los Angeles and gifted to a celebrity guest.

Artisan House Award by Isabella Fiore: Winner will create a limited edition collection for Isabella Fiore.

Best Use of SWAROVSKI ELEMENTS: Winner will receive a design sponsorship including free access to crystals and Swarovski know-how. The winning bag will be produced as a limited edition and receive industry and consumer exposure in the U.S and abroad.

Best Student Made Handbag Inspired by the colors of vitaminwater: Winner will collaborate with vitaminwater to create a limited edition product as well as a feature on the brand’s Facebook page, reaching over 2 million followers.

Best Handmade Handbag: Winner will receive a designer feature on Singer Sewing Company’s website and Facebook as well as a full Singer Sewing Studio with all the items a designer needs to be successful as well as a feature on BurdaStyle.com.

Best Green Handbag: Winner will receive the chance to collaborate with Timberland to develop a product for sale in its stores.

Most Socially Responsible Handbag: Winner will receive a notable collaboration with an ethical and socially responsible brand.

Audience Fan Favorite: Winner selected by InStyle.com visitors and featured on the site.

You can follow the Handbag Awards on Twitter and Facebook.