I have seen bags of this type but of course the disadvantage is that leather is relatively heavier - fill it up an you risk putting your back out or developing what my GP calls "handbag shoulder"!
I have always been a total snob about handbags - leather or nothing (apart from my Cath Kidston spotty bag) but on Friday I was in a very smart little independent shop off Hampstead Heath and admired 2 gorgeous bags in their sale, looking as if they were made of the softest leather and remarkably cheap. Sadly, they were not real (nowadays the mags call it "faux - sounds better than plastic) , but the shopowner told me that because they were so light they were very popular! Don't know if I can swallow that prejudice though unless I become sort of vegan regarding handbags 