I use to remove the velvet light seals and scrape and blow away the dust from the adhesive. It's usually something like shellack, that by now is hard and brittle and easily creates dust in the velvet and holder. Then I use contact cement to glue the velvet back. When it has been worn like that I have taken good velvet from holders in otherwise bad condition. Recently, maybe one or two years ago, I bought a roll of back velvet with the correct width from German eBay to replace the really bad light seal in an Avus camera. It seems to work fine, but I haven't tried that camera yet.
If you look at German eBay, search for "samtband". You could also find it in a good sewing shop near you, if you are lucky. It's best to find it in the correct width than cutting it if you don't want tiny particles of velvet on your film. The thickness of the velvet is important too, for a good seal.