Maintaining and Restoring Vinyl

I spent the day cleaning the garage and getting it organized somewhat.  I
had happened upon my boot which I'd hung over a piece of wood to try to
stretch out the creases.  Lo and behold the piping had cracked where it had
"bent" over the piece of wood.  It is very brittle.  Is there a conditioner
or substance/procedure that can restore the life to this crusty old stuff?

Dan O'Shea
68 Sprite
Poughkeepsie, NY