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Use a clean paper towel to blot up as much of the liquid as you can. Do not rub, or press too hard. Just blot gently. Dip another piece of clean paper towel in hydrogen peroxide, and wring it out so that it is damp but not dripping wet. Place the towel over the stain, and use a heavy object to apply pressure, pressing the peroxide into the leather. Let the hydrogen peroxide do its work for half an hour. Remove it, and see how it looks. If the stain is still there, wet a new paper towel with hydrogen peroxide, and repeat the process for another half hour. Keep in mind that the moisture from the paper towel will temporarily leave a wet mark on the leather. Be sure not to confuse this with the stain itself. Use a soft cloth to rub a small amount of leather conditioner into the affected area. This will help restore the leather’s texture. Let it dry again.
Absorb as much of the wine as you can. Apply hydrogen peroxide. Wait and see. Condition the leather.