I have heard of Rhino leather - but it cannot be used in fine crafts like this. I also have elephant leather items in my house, its very tough material.
The leather on the wheel is best resurrected with leatherique products - I have used this meguair's product and it actually caused rapid wear of the hide. You need to nourish leather to make it supple, Leatherique products have the proteins and fats that the leather soaks up. I did a full clean job on a W124 E420 sportline (last year) with light beige interior (real uncoated leather) and it came out beautiful. I parked it in the sun for 2 days with a humidifier and leatherique applied to it.