Well made, durable, stamped 'Bonded Leather Manmade Material Made in China' Definitely veneer but is it PU on the leather? Or PU leather? The outer cosmetic layer is thin, possibly leather, but looks too good to be leather. In any case, it's reliable, worth every penny (which isn't much!), I'm glad I have it, the buckle is good, I don't regret it. Good wide strong heavy belt. I just don't think it's just skin and I just don't think it matters.