I throw my wallet around, and it still looks great and hasn't cracked a stitch. Plus it was cheap, about $20, from J.Crew. I've had it for two years, and I can't really understand why that would be a long time for a wallet? Haven't had much experience wallet-buying, but anything that breaks under a year imo is bad quality.
On another note, my dad has a Pierre Cardin wallet that he's used religiously for about twenty years. It's starting to fray, but is still holding up admirably.