This is the second Frye Melissa bag that I've purchased. The first was a slate satchel and it stunk!! I sent it back. Then I tried again with a slate hobo bag. The smell wasn't as bad, but was still pretty strong. A chemically smell...not like leather at all.  I thought I'd try airing it out to see if the smell would dissipate before returning it.  It's been four days -two of which were outside- and the smell is pretty well gone. I removed all the paper, opened the bag up and hung it in the clothesline, and that seems to have done the trick. It actually smells leathery now! So, if anyone else is bothered by the smell, try airing your bag out outside!!
The bag itself is beautiful. The leather is thick, soft, and buttery!