Just got my Outbackk Sleeve from SFBAGS, it's made to fit an iPAD mini naked or at most a Smart Cover. Outside is canvas with leather trim. Inside is neoprene. It's a snug fit not sure if it will loosen as time goes on. So far I love it lots of padding to protect my mini from bumps and digs when carrying it.
Outback iPad Sleeve - iPad mini - iPad Sleeve - iPad Case | SFBags - WaterField Designs