It's basically a bag with a side pocket that can be unzipped, revealing the iPad (as pictured above). Unlike your regular brief case or tote bag, the Versetta seems to stow your iPad away by making it part of the bag itself, as opposed to your iPad just being another item within your bag.
Supposedly all ports and buttons are accessible from the bag itself, which means you will not need to remove the iPad from the bag in order to access it or to charge it. Seems like a good idea during bus or train rides where your bag will usually be placed on your lap.
The bag will come in colors ranging from business black and brown, to turquoise, pink, sunny yellow and trendy coral. Unfortunately the Versetta bag does not come cheap, as it is tagged at a price of $189, but for a bag that not only fits your iPad, but a range of other items, perhaps some might consider it to be value for money.
source: Ubergizmo