Vera Pelle handbag from Italy

This is an unusual handbag. The suede sides can remain extended or tucked in the bag. Photos show both ways. There is a noticeable blemish on one suede side. The bag has a clasp closure. The strap is adjustable. On the backside there is a zippered pocket. There is one interior zippered pocket. I believe this is a leather bag. However, it is not stated.