Fossil Gateway sold me plastic

I purchased a handbag, (5 handbags in total and a watch in the pass 6 years) The one handbag which was sold as genuine leather, is peeling. After making a query I was told is not out of warranty. I asked for an explanation how a handbag which is sold as genuine leather can peel and not on the outside, on the inside. My answer was it’s out of warranty. “How does a warranty change the fact that I was sold (leather that peels) Plastic!