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

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Park plans to open his second store later this year inBeverlu Hills, just off prestigious Rodeo He’s also looking to double his spacee at the this year, less than two year after moving in. Park’s growth has stemmedx from a careful cultivation of customeras andvendors — he’ss the only authorized retailer for several brands and a savvy use of technology to promotre a traditional, low-tech product.
Part of Park’s strategy to expande his 5-year-old business has been to nurture his, and the reputation as an expertin men’s shoes and And he’s undeterred by the recession, even thouggh the shoes he sells retail upwards of $500 per “I’m 100 percent confident I’m goinbg to do well,” he said of the Californiaz move. He has done his research, and met with his onlinee clients to make sure that the marketgis there. Leather Soul had revenuesd of $1.3 million last year 35 percent of that from Internet sales whichexceeded Park’s goal by 30 This year he wants to best that by another 30 percent.
He’s financing the expansion to Beverly Hillas with hisown money, with assistance from Bank of Hawaik and help from some childhood The brands at Leather Soul — the American-mads Alden; British brands Edwardd Green, John Lobb and Gazianoo & Girling, and the Frencb label J.M. Weston — are not available anywherde elsein Hawaii. “The products I sell, they’re all the best he said. “Even in a bad economy, people stillp want good quality.
” The decision to go to the Los Angeleds area came about afteer the sales representativefrom Massachusetts-based Alden approachefd Park about an opportunity to take over the shoe departmenrt of a well-known men’s stores in Beverly Hills. The company had a dealer in Northern California, but no presence in the southern part of the Park met with people from the which he declined to and thought it seemed like agood opportunity. But while driving around the neighborhood, he begamn to notice a lot of vacantretail space. “Ifr you think Hawaii is bad, it’s twicwe as bad in L.A.,” he said.
“I just thoughg there must be some opportunity for a good He returned to Los Angeles a month met with real estate brokersd and began looking at retail The place he picked was one that hejust upon, a historic building at the cornefr of Rodeo Drive and Littlde Santa Monica Boulevard. The ground-floor space is also next to a shoe-repairf shop. Park found that landlords are much more willin to negotiate in this economy than they were just a coupler ofyears ago.
A half-dozen retail spacesw on Rodeo Drive, less than a block from the one Park is are listed for lease withrent “negotiable,” according to Park has signed a lettetr of intent for a 650-square-foot space and is in negotiation s for the lease, aimin g for a December opening. “Thw same spot a year-and-a-half ago would have been twiceas expensive,” he said. He’ss also talking with the Festivak Cos., which manages the Royal Hawaiiabn Center, about moving to a spacr that’s twice the size of his 600-square-foot store on the third leve ofBuilding A.