Back in the "old days", a gentleman would never have worn a pair of shoes till he had first used Kiwi on them. This protected them from scuffing, but also helped preserve the leather.
In the military, we used Kiwi for spit-shining our cordovans, but first we would burn off the alcohol in the polish.
I personally, would use Ren wax on any new sheath, especially if it's going to be a user. Any good shoe shop has other excellent leather preservatives for sale.
Dubie Baxter
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Dubie Baxter
RKS #5099