Do you mean "hand made" by the person giving the gift or something hand made which the giver has bought, e.g. At a charity craft fair?
If somebody has made me something nice, with love and care, then I will cherish it. On the other hand, if they present me with a knitted jumper full of dropped stitches and dodgy cable patterns, then I'd rather they'd just bought something or not bothered at all!
One of my most cherished possessions is a huge Ottoman chest made for me by my OH when I couldn't find anything like what I wanted online or in the shops. However, on a couple of birthdays, he's presented me with a bespoke leather jacket and some cloisonné earrings - hand made by someone else but chosen and commissioned with care and love.
Personally, I don't mind about labels. If someone gives me a bottle of supermarket bath foam because they love me, then I'm delighted and grateful.