I've been eying this Frye bag (photo 1) for a while now, and it is currently on sale at 6pm.com. I've wanted a soft envelope clutch for a while now, but the kicker is that I need it to have a convertible strap.

Questions:
1. Could this bag be used for semi-formal type events? Say, like a daytime wedding or a company holiday party, that kind of thing? Or is it, like Frye shoes, strictly casual?

2. Is it too similar to the bag in #2 that I already own? It also comes in red, but I have another red bag in a similar shape already, and cognac, but that's not as versatile for me and definitely more casual.

PS- I am open to suggestions if we don't like this one! The strap is non-negotiable though.

ETA: The bag in #2 is also black, not blue.

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