Katie Sewing Box

https://shop.r10s.jp/30s/cabinet/idea/img58244044.jpg

I like the hinge mechanism worked into the handle. This should keep it closed as well as make it easier to open. It might also make sense to put a bend in the handle. It may even make sense to crisscross the handles so that when it's closed they're pulling against each other.

https://www.amazon.com/50-Pack-CleverDelights-Spools-Unfinished/dp/B015ENB50Q/ref=sr_1_21?ie=UTF8&qid=1496935612&sr=8-21&keywords=wood+spools

Maybe put a magnet somewhere to hold needles.

It may also be possible to arrange the spools on something like a hinge rack so they fold up compactly in the box but can be displayed while working. Actually, the same hinge mechanism can be used. 3 racks, each holding 5x3 pegs.