Leather is a comfortable, fashionable and resilient fabric for a coat. Although leather can last for decades and it can put up with more wear than some other materials, it is still vulnerable to damage, particularly from water. Water can destroy leather if it is not cared for properly and treated to repair the damage. A soaking wet leather coat can stretch out if placed on a hanger to dry and it will dry out and crack if not treated properly.
Pat your wet leather jacket with a dry towel to absorb some of the surface moisture. Lay the leather jacket flat on a dry towel and leave it in a cool area to dry. Do not place the jacket over a heat source, in direct sunlight or into a dryer. This will cause the leather to lose all of its moisture and crack.
Check the leather after a day to see if it is dry to the touch. After the jacket is dry, it will become stiff and may crack a little bit. When a wet leather jacket dries out, it loses some of its natural oils and moisture.
Rub a bar of saddle soap with a wet warm cloth until a soapy lather appears on the cloth. Rub this saddle soap into the surface of your leather jacket in a slow circular motion. Apply the saddle soap in this way until the entire surface of the leather has had the soap rubbed into it. Leave the saddle soap to sit on the leather for half an hour to allow the leather to absorb the moisture and oils.
Buff the surface of the leather jacket with a dry cloth to rub away any saddle soap residue and to give the leather surface a nice shine.