I've done repairs on leather like countless time.
You need.
1. Bulldog Adhesive promoter (buy at any paint supply house)
2. Black SEM (also buy at paint supply house)
REPAIR STEPS:
1. Spray Bulldog over the area to be SEM coated. Spray twice waiting 30 seconds in between cotes.
2. Spray SEM (light cotes, SEM likes to run if you spray on too thick) start by spraying a small area of the repair and let dry 5 minutes between cotes. Each cote should cover a slightly larger area of the repair. Repeat until the area is covered. This may take many, up to 10 cotes to cover. The final cote may end up blending over twice the size of the original repair. This blending out process is essential to the final appearance as well as the durability of the repair.
This repair, if done well, will last a long time and look fantastic. The only other step I do as a professional is to regrain the leather as it will look flat and fake on its own. I regrain the repair area with graining papers and a heat gun (heat repair area evenly with a heat gun until you see it turn glossy, immediately press your graining paper into the semi-melted repair area) TADA! Repaired.
This repair is very easy to do. With a little practice, you can make professional looking repairs too.
SEM can be purchased in tons of stock colors. It can also be custom blended to match your color. SEM is made for Vinyl coloring but take it from me...it does work on leather if you use Bulldog adhesive promoter.