Abstract: A collapsible umbrella with a rigid tubular sheathing handle being attached to a central telescopic stick in such a way that the umbrella in a fully collapsed condition may be withdrawn in the sheathing handle in a completely water-tight manner when a sliding member fixed to the lower end of the stick is at the bottom of the tubular sheathing handle, and that the umbrella in a fully collapsed condition may be taken out of the sheathing handle to be opened for use when the sliding member is retained near the top end of the sheathing handle, thereby rendering the sheathing handle serviceable dually as a storing sheath when the umbrella is not in use and as a handle when it is in use.