Corrected-Grain ("Genuine Leather")

Corrected-grain leather is hide whose surface has been sanded to remove flaws and then embossed with an artificial grain and coated with pigment. "Genuine leather" stamped on a product usually means this grade or similar — it is real leather, but near the bottom of the quality ladder, prone to cracking and peeling as the coating fails rather than developing patina. It is fine on inexpensive goods priced accordingly. The trap is a mid-price shoe leaning on the word "leather" without specifying grade; when the grade is unstated, assume corrected-grain and price your expectations to match.