Yes, It's "rubberized" leather.Quick question for you... Does your PDJ in Monogram Macassar have the rubberized leather or is it the normal leather used on the entire Macassar range? I wish they didn't make the change to the rubberized leather on the DE bags because the coated leather, while it didn't age well on Neverfulls, wore like iron on the business-style bags. And I preferred the non-rubberized, yet still dyed, leather of the classic Macassar range.