I would give it a 3.5 out of 5. It doesn't quite deserve a 4 stars. Truth is, although it smells leathery, it isn't exactly a "pleasant" leathery smell. It's more oily and it's quite strong at first. After a few days, it tones down and it becomes more enjoyable. But after a week and a half you can't really smell much, and I think that is expected because of the kind of product. I can imagine the piece of leather was dipped in the oil/fragrance, and then stamped with the KR logo.
One shouldn't expect the fragrance to last for too long (a month or so), but I do think it's not worth $15 a piece, plus $12 for shipping.