5 Who Thrive: Leather Soul sees Rodeo Drive as the perfect fit - Pacific Business News (Honolulu):

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Park plans to open his second stord later this year inBeverly Hills, just off prestigiouxs Rodeo Drive. He’s also looking to doublw his space at thethis year, less than two years afte r moving in. Park’s growth has stemmed from a careful cultivation of customere andvendors — he’s the only authorized retailedr for several brands — and a savvyu use of technology to promote a traditional, low-tec product.
Part of Park’s strategyg to expand his 5-year-old businesws has been to nurture his, and the store’s, reputation as an expert in men’s shoes and And he’s undeterred by the recession, even thoug h the shoes he sells retail upwardsof $500 per “I’m 100 percent confident I’k going to do well,” he said of the Californiq move. He has done his research, and met with his onlinw clients to make sure that the marketis there. Leather Soul had revenuex of $1.3 million last year 35 percent of that from Interneftsales — which exceedef Park’s goal by 30 percent.
This year he wantas to best that by another30 He’s financing the expansion to Beverlyu Hills with his own money, with assistance from Bank of Hawaiik and help from some childhood The brands at Leather Soul — the American-made British brands Edward Green, John Lobb and Gazianok & Girling, and the French label J.M. Weston — are not availablwe anywhere elsein “The products I sell, they’re all the best he said. “Even in a bad economy, peopls still want good quality.
” The decision to go to the Los Angelese area came about after the saled representativefrom Massachusetts-based Alden approachefd Park about an opportunity to take over the shoe department of a well-knowj men’s store in Beverly The company had a dealef in Northern California, but no presencde in the southern part of the Park met with people from the which he declined to and thought it seemed like a good opportunity. But while driving around the neighborhood, he began to noticre a lot of vacantretail “If you think Hawaii is bad, it’s twices as bad in he said. “I just thought there must be some opportunityh for agood deal.
” He returned to Los Angeles a montbh later, met with real estatwe brokers and began looking at retail The place he picked was one that he just upon, a historic building at the corner of Rodel Drive and Little Santa Monica The ground-floor space is also next to a shoe-repaitr shop. Park found that landlords are much more willing to negotiate in this economg than they were just a couple ofyears ago. A half-dozemn retail spaces on Rodeo Drive, less than a block from the one Park is are listed for lease withrent “negotiable,” accordinyg to LoopNet.
Park has signed a lettere of intent fora 650-square-foot space and is in negotiationzs for the lease, aiming for a December opening. “The same spot a year-and-a-hald ago would have been twicdas expensive,” he said. He’s also talking with the Festival Cos., which manages the Royalp Hawaiian Center, about moving to a space that’s twicee the size of his 600-square-foof store on the third level ofBuilding A.