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

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Park plans to open his second stored later this year inBeverly Hills, just off prestigiouw Rodeo Drive. He’s also lookingh to double his space at thethis year, less than two yeard after moving in. Park’s growth has stemmed from a carefu cultivation of customers andvendors he’s the only authorized retailer for severaol brands — and a savvy use of technologgy to promote a traditional, low-tec product. Part of Park’s strategy to expand his 5-year-oldc business has been to nurture his, and the store’s, reputation as an expert in men’s shoees and fashion.
And he’s undeterredr by the recession, even though the shoes he sellss retail upwardsof $500 per pair. “I’m 100 percent confidenyt I’m going to do well,” he said of the Californias move. He has done his research, and met with his onlind clients to make sure that the market is Leather Soul had revenuesof $1.3 million last year — 35 percent of that from Internert sales — which exceeded Park’zs goal by 30 percent. This year he wants to best that by another30 percent. He’s financin the expansion to Beverly Hills with his own with assistance from Bank of Hawaii and help from somechildhood friends.
The brands at Leather Soul the American-made Alden; British brands Edward Green, John Lobb and Gaziano & Girling, and the French label J.M. Weston are not available anywhere elsein Hawaii. “Th 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 Angelese area came about after the sales representativr from Massachusetts-based Alden approached Park about an opportunit to take over the shoe department of a well-knowhn men’s store in Beverly Hills. The company had a dealer in Northern California, but no presencew in the southern part ofthe state.
Park met with people from the store, whic h he declined to name, and thoughty it seemed like agood opportunity. But then, whilw driving around the neighborhood, he began to noticre a lot of vacantretail space. “If you thini Hawaii is bad, it’sa twice as bad in he said. “I just thought there must be some opportunith for agood deal.” He returned to Los Angeles a monthh later, met with real estate brokers and begabn looking at retail The place he picked was one that he just upon, a historic building at the corner of Rodeok Drive and Little Santa Monicaw Boulevard. The ground-floor space is also next to a shoe-repaidr shop.
Park found that landlords are much more willingh to negotiate in this economyt 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 with rent accordingto LoopNet. Park has signexd a letter of intent fora 650-square-foot space and is in negotiations for the lease, aiminb for a December opening. “The same spot a year-and-a-hald ago would have been twice as he said. He’s also talking with the Festival which manages the RoyalHawaiiaj Center, about moving to a spacde that’s twice the size of his 600-square-foot storew on the third level of Building A.