I have yet to find a better product for protecting leather.  Now, this Kiwi states itself as "Mink oil Show Polish", but don't believe for a second that it can't do more than that.

Mink oil will work on any leather.  I personally prefer wearing lambskin leather gloves in the wintertime as they allow the grip on the steering wheel of your car to be MUCH more positive.  This is important because controlling your car in the wintertime requires more attention on the part of the driver, and not worrying about a hand slipping at just the wrong moment can be critical.  So one use of this mink oil is to rub it all over your gloves.  To do this, I open the tin, put on my gloves, and then dip into the mink oil, and using the gloved fingers, I rub it totally over the entire surface.  Then I set the gloves aside for a day.  Then for the entire winter, those gloves will resist water and give me a great grip, whether I am driving my car, or pushing my snow plow.

For usage on the shoes, generously apply it over the entire shoe, and use a toothbrush to get it totally into the seam between the soles and the rest of the shoe.  Most of the time, should you step into a puddle of water, this will keep most, if not all, of the water from seeping into your shoe.  Of course, this doesn't work in every case, because sometimes shoes have a design flaw in this area.  Also, if you stand in water long enough, it will likely get in, but at least, most of the time, it should keep your feet dry.

So, not only is a good for grip, and for water resistance, but it also smells pretty good too.