This is a size 9 from INED. I usually wear a size M, but this feels like a size L. The hem is not raw. It's black, with a matte texture, an elastic waist, and no cracking in the leather. It also has a hanging loop so you don't need to use clothespins. It's a very nice item, but I can't wear it because it's too big, so I'd like to sell it.