I received this cover today in the mail. The beige color looks exactly like in the pictures. Shipping was from the Los Angeles area and took 1 day to process and 2 days to get here in Northern California. It is built well with a stiff but slightly padded front and back of leather. The flap is held in place with 3 small button magnets sewn inside. The inside covering that touches the iPad is a gray felt material. Also has a strong chemical smell.
I ordered the same case and received it today. Mine had a slight chemical smell (possibly dye) when I first removed it from the plastic wrap but that dissipated within a few minutes. Either I got lucky or they've cleaned up their act. Hope yours does likewise. I agree that it's a pretty nice case, but I'm not sure that it's really leather. It might be a good quality vinyl. What I like is that it doesn't look like a case for electronics but like an ordinary portfolio of the type that usually holds a notepad. All in all, worth the $29.