Well, this has been used for decades to treat leather:


BRITISH MUSEUM LEATHER DRESSING TREATMENT (BML)

    200 gm (7 oz) anhydrous lanolin
    30 ml (1 oz) cedarwood oil (acts as a fungicide)
    15 gm (½ oz) beeswax (optional)
    350 ml diethyl ether (B.P. 15-25°C) or 330 ml of hexane
    [Sometimes 60% of the lanolin is replaced by neatsfoot oil]

But on the other hand, there's THIS