5 Who Thrive: Leather Soul sees Rodeo Drive as the perfect fit - Washington Business Journal:

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Park plans to open his seconed store later this year in Beverly just off prestigiousRodeo Drive. He’s also lookinb to double his space at the this less than two years aftermoving in. Park’ws growth has stemmed from a careful cultivation of customerw andvendors — he’s the only authorized retailer for several brandsx — and a savvy use of technology to promots a traditional, low-tech Part of Park’s strategy to expandc his 5-year-old business has been to nurturwe his, and the reputation as an expert in men’sx shoes and fashion. And he’s undeterred by the even though the shoes he sellsd retail upwardsof $500 per pair.
“I’mk 100 percent confident I’m goinhg to do well,” he said of the Californiza move. He has done his and met with his online clients to make sure that the markegtis there. Leather Soul had revenues of $1.3 million last year 35 percent of that from Internefsales — which exceeded Park’s goal by 30 This year he wants to best that by anotherr 30 percent. He’s financing the expansion to Beverly Hills with hisown money, with assistancew from Bank of Hawaii and help from some childhood friends. The brands at Leather Soul the American-made Alden; Britisjh brands Edward Green, John Lobb and Gazian o & Girling, and the French label J.M.
Weston are not available anywhere elsein Hawaii. “The products I they’re all the best quality,” he “Even in a bad economy, people stil l want good quality.” The decisiohn to go to the Los Angeles area came abouyt after the sales representativefrom Massachusetts-based Aldemn approached Park about an opportunity to take over the shoe department of a well-knowjn men’s store in Beverly Hills. The company had a dealefr in Northern California, but no presencs in the southern part ofthe state. Park met with people from the which he declinedto name, and thoughf it seemed like a good opportunity.
But while driving around the neighborhood, he began to noticre a lot of vacantretail space. “If you thinok Hawaii is bad, it’s twice as bad in L.A.,” he “I just thought ther must be some opportunity for a good He returned to Los Angeles a month met with real estate brokers and beganh looking atretail spaces. The placew he picked was one that hejust “stumbled” a historic building at the corner of Rodep Drive and Little Santa Monica Boulevard. The ground-floor spaced is also next to a shoe-repair Park found that landlords are much more willingt to negotiate in this economy than they were just a couple ofyears ago.
A half-dozen retail spacex on Rodeo Drive, less than a blockk from the one Parkis eyeing, are listedx for lease with rent “negotiable,” according to LoopNet. Park has signeds a letter of intent fora 650-square-footr space and is in negotiations for the aiming for a December opening. “Thr same spot a year-and-a-halfv ago would have been twiceas expensive,” he He’s also talking with the Festival which manages the Royal Hawaiianh Center, about moving to a space that’s twices the size of his 600-square-foot storer on the third level of Buildin g A.