The holster has a synthetic suede outer over a kydex like material. Safariland calls it Safarilaminate. How they accomplish it exactly I have no clue, but it works pretty well. You get most of the benefits of a leather holster (i.e. traction against clothing) and most of the benefits of kydex (i.e. holster stays open, positive retention, etc.). Even the belt loops are made of the same material. One thing about all leather IWB holsters is that eventually they wear out, generally quicker than a kydex holster because they absorb moisture being carried against the body. This holster, with its hybrid construction should last for quite some time.
What I really like about the holster is that the belt loops are adjustable for cant by loosening 2 allen screws. I think this is really important on a holster intended for concealed carry because different guns will require different amounts of cant in order to conceal well. For example, when carrying a full-size 1911, more holster can't will generally help keep the butt of the pistol grip from printing. Adjustable cant also means this holster can be carried in different locations depending on the user's preference. Mike Seeklander is an AIWB guy, and being able to adjust the loops to have zero cant or even negative cant facilitates that mode of carry. I on the other hand am a pretty traditional 3:30 to 4 o'clock carry guy, so the holster works well for me too.
The holster is also fast for an IWB holster and the draw I feel is very sure. These are important attributes because having to fumble with trying to get a gun out of a holster in the middle of a fight is not exactly desirable. I was using the Model 18 while running these Bill Drills.
All that being said, the speed and good access does come at a cost. The Model 18 does not conceal as well as the other IWB holster that I use. What that translates to is that I cannot carry a full-sized 1911 under an untucked polo as well. The holster also isn't as stable on the belt as I am accustomed to. Part of this is due to running it with a 5" 1911, and part of it is that I am used to a holster with mounting points set further apart. I think running a lighter and/or shorter barreled handgun in the holster would help tremendously with this.
The holster strikes a good balance. Fast, secure, and great build quality that will last for a very long time. I expect this holster to be my regular EDC and IDPA holster for the foreseeable future.