In HK Admirality Center in the basement are 2 shops with real leather bags; one is a shoemaker which has some bags, the other has only bags, if you ask they can make you your favourite colour. Medium size bag is 800HK up but if you go with a local you can negotiate.
If you have a China Visa going to LoWu Shenzhen is still worth a try, the starting price is lower than 6 month ago, but bargaining is a lot harder.