If the leather is not torn or damaged , There are guys who sand them down and respray them . .
I used a product called Autosol leather cleaner , comes in a tube . That worked really well for me .
Whats wrong with your wheel ? Is it torn ? you could try cleaning it . remove it from the car , strip it apart and try cleaning the wheel . I had some success with that on my E30s Mtech 1 wheel . Just need someone to fix the stitching now . I cleaned it with dish washing liquid under a tap of running hot water , then cold water , using a sponge while applying some pressure . It cleaned it up really well . The results were like night and day and I even got the Matt finish back.