Nope, you sure don't, as long as the bag does not retain any moldy smells. Makes for a good story though! Lol
I've done a few Madewell bags, both lined and unlined. I usually don't dunk the lined ones that have that white and blue stripe because Madewell leather bleeds tremendously. If the lining matches the bag, I do dunk. Anyway, I find they rehab really well. And that saddle color they have looks gorgeous, even well patinaed (idk if that's a word--haha).
Here's one I dunked and painted, along with a matching wallet. That was a lot of fun!
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Gorgeous color on this one! I didn't dunk it because of the light colored lining. I just washed it with a wet rag, washed any spots on the lining, and followed that up with several coats of conditioner and Obenaufs. It turned out lovely. They're great bags for rebabbing in my experience.
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Sorry, I don't think anyone asked for opinions on how to rehab Madewell bags. Lol. I just like to overshare I guess. Haha