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

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Park plans to open his second storde later this year in Beverly just off prestigiousRodeo Drive. He’s also looking to doublse his space at the this less than two years aftermoving in. Park’ws growth has stemmed from a carefupl cultivation of customers and vendors — he’s the only authorized retailedr for several brands — and a savvy use of technology to promote a traditional, low-tech product. Part of Park’s strategyy to expand his 5-year-old businessa has been to nurture his, and the reputation as an expertin men’s shoexs and fashion.
And he’s undeterred by the recession, even though the shoeds he sells retail upwardsof $500 per “I’m 100 percent confident I’mk going to do well,” he said of the Californiz move. He has done his research, and met with his online clientas to make sure that the market is Leather Soul had revenuesof $1.3 millio n last year — 35 percent of that from Interneyt sales — which exceeded Park’s goal by 30 This year he wants to best that by another 30 percent. He’s financing the expansio n to Beverly Hills with his own with assistance from Bank of Hawaii and help from somechildhoodr friends.
The brands at Leather Soul — the American-made Alden; Britishn brands Edward Green, John Lobb and Gazianoi & Girling, and the French label J.M. Westob — are not available anywhere elsein Hawaii. “Ths products I sell, they’re all the best he said. “Even in a bad people still wantgood quality.” The decision to go to the Los Angelesa area came about after the sales representativwe from Massachusetts-based Alden approachecd Park about an opportunity to take over the shoe departmentf of a well-known men’ store in Beverly Hills.
The companyy had a dealer in Norther California, but no presence in the southern part of the Park met with people fromthe store, whicg he declined to name, and thoughyt it seemed like a good opportunity. But while driving around the neighborhood, he began to noticer a lot of vacanrtretail space. “If you think Hawaii is bad, it’zs twice as bad in L.A.,” he “I just thought there must be some opportunity for a good He returned to Los Angeles amonth later, met with real estatew brokers and began looking at retail spaces.
The place he picked was one that hejust “stumbled” upon, a historixc building at the corner of Rodeo Drive and Littlde Santa Monica Boulevard. The ground-floor space is also next to a shoe-repait shop. Park found that landlords are much more willingh to negotiate in this economy than they were just a coupl ofyears ago. A half-dozen retaill spaces on Rodeo less than a block from the one Park is are listed for lease withrent “negotiable,” accordintg to LoopNet. Park has signed a letter of inteng fora 650-square-foot space and is in negotiations for the aiming for a December opening. “Thre same spot a year-and-a-half ago woulcd have been twice as he said.
He’s also talking with the Festivapl Cos., which manages the Royal Hawaiian about moving to aspace that’s twice the size of his 600-square-footr store on the third level of Building A.