I think that in Louis Vuitton's classic bags with coated monogrammed canvas and light leather handles, the leather is vachetta. If you go over to the LV forum, you'll see people fretting over the darkening of the leather. I read somewhere that it darkens with actual handling, but also with exposure to the air. Someone did a tutorial of how to lighten the leather back up, using Magic Erasers.
I only learned about this company in the last week when I picked up a LV handbag at Savers for $14. The bag originally sold for nearly $1000, and it wasn't zip tied to the board like a Coach bag that I wanted to buy, but was hanging with the junky stuff. The Coach bag, a vintage drawstring bucket was priced twice as high. It was in pretty good condition except for a huge dark ink mark on the front.
I saw an LV at Savers for $50 but I don't know enough about the brand to know if it was authentic and I wasn't willing to risk $50. There was a good chance, though. It had suede lining.