This doesn't look normal to me.

Definitely get that replaced, I had similar looking unexplainable wrinkles in my Speedy B 30 DE strap a month and a half after I purchased it new at a store. So odd because it was only in one section of the strap that I don't even touch that often.
 
Thank you for the replies! Going to put my strap in the mail tomorrow and my SA is going to overnight me a new one as soon as she receives it. Have to say I have been completely impressed by LV service. :smile: