I've purchased the red (wine actually) leather cover from Bookeen and it is really nice, it fits perfectly, more slim than the previous (hideous) brown one and well crafted. It was about time Bookeen made available a decent cover.
It seems like leather, (at least it is written on the back "genuine leather") and inside is like suede.
The only "drawback" is the light, because now that I can see it blinking it is a little distracting, but I' m getting used to it and in a few days I think I won't even motice it anymore.
Really happy with it!