It is one of the first generation so with a magnetic clasp - the leather has a smaller grain and doesn;t look as "shiney" as yours (my sponge black one seems to have the same texture and shine as your red one, which incidentially also came from an outlet - Bicester).
When they were first produced wasn;t in love with the style at all, coupled with the fact that my pink patent one is so stiff - its like carrying a box. The goatskin/ sponge is so much better - slouchy. I actually prefer using it to my Bays for work. Really easy to carry and functional (I have sold many Mulberries because badly designed). Brought the black on a whim because I wanted a workbag - now I use it everyday and on that basis brought the red! I'm really happy with mine and yours looks gorgeous - very vibrant. I would keep it but then I am biais.
When they were first produced wasn;t in love with the style at all, coupled with the fact that my pink patent one is so stiff - its like carrying a box. The goatskin/ sponge is so much better - slouchy. I actually prefer using it to my Bays for work. Really easy to carry and functional (I have sold many Mulberries because badly designed). Brought the black on a whim because I wanted a workbag - now I use it everyday and on that basis brought the red! I'm really happy with mine and yours looks gorgeous - very vibrant. I would keep it but then I am biais.
I'm taking a bit of a risk with the colour since all my other bags are neutrals, but I figure red is classic and if I can have any kind of "pop" bag then red would be the most sensible to start with... I might graduate to an Alexa in the crazy prints soon!! 
