This bag appears to be a genuine vintage Loewe piece, likely from the 1970s or 1980s — or earlier — crafted in Barcelona, before the brand transitioned its image to the current luxury fashion house look. That older logo isn’t used anymore, but it’s part of Loewe’s heritage. Vintage collectors often seek out these pre-LVMH bags for their craftsmanship and historical value. The wear on the bottom does affect resale a little, but after careful restoration, it could still fetch interest, particularly among vintage European luxury collectors.