EXHIBIT 23.1

                                                        



                    CONSENT OF INDEPENDENT PUBLIC ACCOUNTANTS


As independent  public  accountants,  we hereby consent to the  incorporation by
reference in this registration  statement on Form S-8 covering The 1995 Director
Non-Qualified Stock Option Plan of The Leather Factory,  Inc. and The 1995 Stock
Option Plan of The Leather Factory,  Inc. of our report dated February 16, 1996,
included in The Leather Factory,  Inc.'s Form 10-KSB for the year ended December
31,  1995, and to all  references  to our  firm  included  in this  registration
statement.


                                                     /s/ Arthur Andersen LLP
Fort Worth, Texas
June 26, 1996