: I took regular windex and scrubbed the leather where it appeared to be peeling. At first I thought dirt was coming off these areas, but found later it was a thin layer of a black coating, probably a treatment during manufacture to make the wheel look its best. Much to my amazement, after this coating was removed the wheel looked almost new, but less shiny.

: I can't really endorse the use of windex on leather, but in this case it seemed to improve a situation I thought to be a lost cause. Naturally, YMMV and I make no guarantees just in case someone tries it and something bad happens.