Well it's not a permanent solution, as the replacement jacket is made from lower quality pleather than Hot Toys, why we know? because many of us got the Hot Toys Leon Kennedy pleather jacket replacements, and those thin strips goes in less the 2 years. The main part would last longer but more or less same as Hot Toys, i would guess even less though.
Only long term solution is to replace the pleather layer with Real Leather. I've seen some people from Hong Kong do it however the hard parts is getting the stitchings as they were. you probably need to remove all the stitch and restich them which is really the hard part. Also getting the thinnest leather in the correct leather can be difficult, you probably need to sand them down.