Elegant brown clutch with matching coin purse. Vintage 1950s Koret Satin Clutch Evening Bag wi Color Chocolate Brown Details: Original change purse included. Koret was established in 1929 by Richard Koret. By the 1940s the company was a leader in the handbag industry. In 1965 Richard Koret was killed in a plane crash, and the company was eventually acquired by Michael Gordon, who ran it until the late 1990s.