The corner of Madison Avenue and 61st Street has a little more sparkle these days, thanks to the glittering new Judith Leiber flagship store, which officially opens today. Though the brand has long been known for its crystal-studied minaudieres, or clutches, there’s a rejuvenation afoot – and last night’s launch party celebrated it.

Lining the new shop – located in the space once occupied by Maxim’s – were Judith Leiber furs, shoes, sunglasses, gloves, wallets, scarves and smaller gifts including card cases and key chains. Though Ms. Leiber herself retired in the late 1990s and sold the company to a private equity firm, her design aesthetic is still very much present. The look, now designed by creative director Frank Zambrella, is feminine and glamorous.

“I love the sunglasses,” said Shelley Binder of Manhattan, as she admired the new wares. “They’ve got rhinestones on the sides.”

Perhaps most excited though, was Miss Sammy Cohen, age 9, who pointed with pride to a crystal bag that depicted a drawing she made for her mother, Caryn.

“For Valentine’s Day, my husband had the kids draw the pictures and had the bag made,” said Ms. Cohen, showing off the clutch. “It was a surprise. It was the greatest gift.”

There were colorful new Judith Leiber bags in the manicured hands of the shoe-buying team from Saks Fifth Avenue. The three lovely ladies in their mid-20s all agreed that had they the cash, they’d buy the bags they had borrowed for the event.

Judith Leiber bags – which can cost around $2,500 – are not the stuff of the single-girl splurge. The shoes, however, are in the $300 to $400 range, as are the business card cases. Key chains can be had for under $200.

In addition to the array of new items, Judith Leiber partnered with contemporary artists – including Ross Beckler and Jessica Craig Martin – to create one-of-a-kind bags that were auctioned off at a starting bid of $5,000 to benefit AIDS Community Research Initiative of America.

The launch party also introduced the new ad campaign, which includes real-life it-girls Zani Gugelmann and Cristina Cuomo, who was on hand to help celebrate. “I’m here to support Judith Leiber and the new collection,” said Ms. Cuomo, who was carrying a bag from a recent collection.

While most of the featured bags can be worn with eveningwear year round, the new collections include more seasonal pieces. In the upcoming spring collection is a beautiful green-feathered bag that’s perfect for Palm Beach. For fall, there are gold-accented leather boots and shoes, as well as black satin numbers with big baubles on the sides. With all the sparkle, the pieces are quintessentially Judith Leiber, but Mr. Zambrella’s design experience at Cole Haan, Ralph Lauren, and Coach all combine to create a practical side to luxury, too.