Yes, they do indeed. But I had not heard of it being applied to leather. I was told a crock pot full of molten beeswax will last a very long time. I envisioned this waxy mess when pulled from the bubbling cauldron, but, supposedly, the beeswax permeates the leather and little residue remains on the exterior.
From the response, it seems no one practices in this part of leather art. Off to the internet.