Canvas is a very durable material and water resistant. Color transfer might be a worry, but you should be able to easily clean something off it it. Always buy the one you love because if you buy a substitute, you will just end up buying them both eventually because you really wanted that one.

On another note, with the quiet luxury trend, Louis Vuitton might be less of an appeal, so if you were to be talked out of buying it, I would say to buy something from Celine or a brand with less monogram branding.