Just picked one of these up in my local Tesco tonight but see it's on Tesco Direct too. Says new product. It's a nice little neoprene/foam padded skin (decent thickness, soft lining) with a proper zip, in black. Says it's for 10" netbooks (beware, they vary in size) but for me it's a perfect snug fit for my Acer One 9" netbook (previous Tesco deal!) when fitted with a larger battery (6 or 9 cell).
No reduction claimed - it's just a fantastic price compared to others out there (if you can even find them this size). Last time I looked in PCW they were £15-£20 and didn't even zip up.
Link added: http://direct.tesco.com/q/R.204-7987.aspx