I also think modelling is not such a bad idea in some cases, when they are visible. I think here the biggest issue is lack of reference, because you cannot see them well in photos usually. Once you manage to get a closer look at how precisely they look, there should be no problems. One could also model a loop of faces where the seems are so that it could be UV mapped in a way that would let you use a texture of a single stitch that would repeat along the edge. You could then use bump, normal map or displacement. Seam maps may also have a separate UV Map, so that they do not interfere with the rest of the material. You can model a single stitch and make textures out of it or just repeat it along the edges if you choose modelling. The material deforms around stitches so Felix_Kütt’s example is not really complete. It also makes sense to only have visible geometry, because poly count grows quite fast in this situation. I would recommend modeling only the visible surface if you choose modeling and not the texturing approach.
That is entirely true, no point over complicating an example though, and yes leaving in only the visible geometry is an obvious choice I just didn’t bother deleting the left over from the example.