A man-purse is quite practical as well, but I wouldn't wear one of those either.
I believe the correct term is "European carryall."
Except a fanny pack isn't a purse. You don't wear it over the shoulder. Also the Scottish guys wear something resembling a fanny pack.
I find it a convenient way of satisfying the legal "Concealed Carry" requirement.
Now when I carry my molded rifle case that is form fitted to my AR=15, I strut like a peacock!
Men have handbag options. The backpack, casually slung over one shoulder is the preferred option. The briefcase is another, but it is far less handy. Fortunately the casualization of society has meant that the backpack, formerly the tool of the college student only, has made great inroads into the business world. Just don't get a leather one -- then you're in murse territory. Besides, leather is too heavy for luggage.