"Il Vakketta" bag?

I just received as a present, from someone notorious for giving items
found second–hand, a simple, sturdy, black leather handbag/purse that
came in a fabric drawstring bag, labelled "Il Vakketta." The same logo
that is on the drawstring bag is impressed on the front of the purse.
There's an inside label that says "Designed by Gino / Genuine Leather"
and then a serial number. The handle is in two pieces that connect like
a belt buckle, so it's adjustable. The only things are that 1) the loops
I would expect to hold the strap's "tail" beyond the buckle are missing
(you know, like a leather belt or watch band has loops to hold the tails
down), and 2) It used to be my tastes (safe) but isn't really any more.
This is from someone who will notice if I don't have the purse and
will ask me how I like it.
So, my questions:
– Has anyone heard of "Il Vakketta" leather handbags? I tried googling
but all I came up with were a couple of expired auctions that won't show
me anything.
– Is this bag worth getting fixed? There's a good shoe repair shop in
town and I can probably get those missing loops replaced.
– What do I say to the gift giver? This is someone I really don't want
to hurt – a close family member. I may just say "thank you" even though
that would encourage her to get me more of the same, when she really
wants to give me something I would enjoy. She just hasn't been as close
lately and doesn't realize my tastes have drifted away from safe. Kinda
like the other family member who got me a lovely hand carved bone hair
accessory a year after I got it cut short. *grin*
thanks,
JeanneP