It all Started as a Gift. 40 years ago, in 1977, Designer Gale Epstein created a bra and panty set out of hand-embroidered handkerchiefs as a birthday gift for her friend, Lida Orzeck. Inspired by this ingenious concept, the friends became business partners and named their new company after the original design… Hanky Panky. Introduced in honor of Hanky Panky’s 40th anniversary are new styles inspired by Gale Epstein’s original lingerie designs, expertly crafted in New York from vintage hand-embroidered handkerchiefs.