Mine are done with an upholstery leather, a couple pieces of stiffener, and a pigskin lining. They take a TON of time and materials compared to the Orvis folio you reference. They're my #1 selling item, but I don't need to really make money at this yet, as I still have a day job. For wholesale, I'd go with the thicker, firmer leather -better profit margins.
-Sean