I was never entirely sure whether this store in a corner of Trenholm Plaza next to the old Radio Shack location was LA Bag Lady as in Los Angeles or La Bag Lady as in kind of French. Their site uses the "La" capitalization, but goes on to namecheck L.A., so I'm still not entirely sure. At any rate, it was never a matter of prime importance to me as handbags are way down on the list of things I pay attention to.
Interestingly, all the phonebooks I have access to at home list only the Sandhill location for the shop, but this one definitely existed until very recently, as you can see in the picture at the top of Eden's Trenholm Plaza site page.
(Hat tip to commenter mamarose)
UPDATE 9 May 2012 -- Here are some pictures I dug up from Trenholm Plaza's redevelopment back in 2008. They are from 2 July and 5 September of that year: