Ive always loved the Apple leather cases but I may pass on it for the iPhone 7 because Apple has Changed their policies on warranty coverage.
In the past then the Leather Cases came with a 1yr warranty and with AppleCare+ on your associated device then they'd cover accessories. If my leather iPad smart case would start to fray or my iPhone Leather Case would start falling apart then they'd gladly replace it. But this year that changed and not only does Applecare+ no longer cover accessories (Apple Pencil, Apple Smart Covers, Apple Dock).
Currently my iPhone 6S+ Leather case ($59) loosely fits because the plastic frame is warping. My iPad Mini 4 Silicone Smart Case ($49) has a crack near the headphone jack. And my iPad Pro Smart Keyboard 9.7 ($149) is cracking along one of the folding flaps and its eventually going to split. In each case the item is under a year old but denied support because "its wear and tear so its not covered".
Now, i'm not entirely sure if their Previous leniency on replacements was simply old school courtesy but nowadays then I'm getting straight up "No's" to just about anything. So if the AC+ support is no longer there then a much cheaper alternatives that have equal or superior quality.