The expense in producing fine leather goods is the labor costs. It's a craft which requires much training and/or experience, and highly-skilled leatherworkers do not come cheaply.
It's definitely not a niche skill.
For men's dress shoes brands like Meermin and Grant Stone (China) are competing with Carmina (Spain) and Alden (USA).
I'm sure there's others for every type of leather good imaginable.