The reality is.... the PC advertised material called "ultra leather" is a cheap imitation vinyl, not the trade marked Ultra Leather material. A lot of buyers paid extra for a material that is not anything other than a horrible grade vinyl. I believe the brand was "Halo" not sure of its origination, but Ron probably has it correct. A quick price check puts the PC (Halo) ultraleather at around $5/yard. The real deal UltraleatherTM can run up to $100/yard. Most buyers would be much happier with standard, no extra charge cloth. I hope the new option of "Leather" is actually something that will be an asset, but like man made materials there is a huge quality range of "Leather", some good some not.
The trade marked Ultraleather company has been around a long time, they appear to stand by their products. Verbage can make profits for a company like PC, and lots of unhappy customers. If I were to be looking at a used PC I would steer away from their ultraleather, of at least expect to have to live with poor quality upholstery, or figure in a reasonable amount for replacement. Sorry, just the facts, and a some opinion.
Doug