For the Verso Prologue Cover in Red: It has the feel of soft, lush leather -- although apparently it is not leather, but you could have fooled me. The problem I'm running into is, this is meant for the Kindle Fire? It just BARELY fits into the elastic straps at each corner. I forced it. I worry that the straps will loosen over time, but time will tell. And the cover doesn't lay completely flat when the "book" is closed. Maybe like leather, some use will cause the spine to accommodate and relax. It's a beautiful piece, though. I should return it, but I'm not going to, because it's that beautiful.
UPDATE: As others have pointed out, there is a backing to the elastic that really holds the Fire securely. That and the fact that it's a tight squeeze to get the Fire in place to begin with, I'm confident that the equipment is very secure. The elastics on top do cover some of the speaker outlet, but I don't notice a difference and when watching a movie or listening to music on a personal device, I use headphones anyway. Even alone.
This isn't the right cover if you plan to remove it often, however. For example, I removed the Kindle Keyboard from its case several times a week to put it into a dry sac for pool/bath times. That isn't happening here.
Although the elastics are properly flattened and not curled under in any way, the cover still doesn't lay entirely flat. I think the manufacturer would do well to add 1/4" to the spine. I don't regret the three-star review, but I am glad I decided to keep it.