A retractable storage system for a handheld electronic device includes a protective housing member operative shaped and sized to bound the handheld electronic device and enable wrapping around the handheld electronic device. At least one accessory station structured is on the housing member, and has an aperture to arrest and dispense an accessory item. At least one storage chamber is structured on the housing member to store the accessory item. The protective housing member has a first housing part and a second housing part which combine to form one protective housing member.