United SGP Illuzion is one of the most elegant sleeves available for the iPad 2. It looks like a simple leather case from the outside and has enough room to hold an iPad 2 (or iPad v1).
The case has been designed in such a way that it can accommodate the iPad with or without the smart cover on. This is great for those who like smart cover from Apple but want to protect its back as well.
The case uses magnets for closing and opening the case. In my usage, I observed that the magnets sometimes woke the iPad up which can get irritating. Costs 60 dollars and comes in black, red, pink, lime, blue and brown colors. [official product page]
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