Vintage cross body bag?

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Description
I was given a few purses by a neighbor recently and one of them caught my attention pretty fast. This bag seems very old, yet well made! It's defiantly real leather and the stitching is amazing! I can't figure out the brand at all, but there are two indicators that might help. The purse has the word "Italy" etched on it and on the zipper are the initials BM.
Condition
Fair
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