Felt stiff and cheap out of the package, but looks nice. Matches my chestnut/cognac brown dress shoes quite well. Have worn this maybe 40 times, and it’s just breaking down. Outside appears to be some bonded leather, the backing however is some blend of recycled (denim?) cloth, fiberglass, and cardboard. Marginally better than the dime a dozen reversible dress belts from your local clothier, but far from a quality product. You get what you pay for, I suppose.