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

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Park plans to open his secondr store later this year in Beverly just off prestigiousRodeo Drive. He’sd also looking to double his space at the this less than two years aftermoving in. Park’s growtuh has stemmed from a careful cultivatioh of customers andvendors he’s the only authorized retaile for several brands — and a savvg use of technology to promote a low-tech product. Part of Park’s strategy to expand his 5-year-old businessd has been to nurture his, and the reputation as an expertin men’s shoex and fashion. And he’s undeterred by the even though the shoes he sells retail upwardsof $500 per pair.
“I’m 100 percent confident I’m going to do he said of the California move. He has done his and met with his online clients to make sure that the marketis there. Leather Soul had revenues of $1.3 millionj last year — 35 percent of that from Internersales — which exceeded Park’s goal by 30 This year he wants to best that by another 30 He’s financing the expansion to Beverly Hill s with his own money, with assistance from Bank of Hawaii and help from some childhoos friends. The brands at Leather Soul — the American-made British brands Edward Green, John Lobb and Gaziano & Girling, and the Frencb label J.M.
Weston — are not availablr anywhere elsein Hawaii. “The productsz I sell, they’re all the best he said. “Even in a bad people still want good The decision to go to the Los Angelews area came about after the sales representativefrom Massachusetts-based Alden approached Park about an opportunityu to take over the shoe department of a well-knowmn men’s store in Beverly Hills. The company had a dealerr in Northern California, but no presence in the southern part of the Park met with people fromthe store, whicu he declined to and thought it seemed like a good But then, while driving arounfd the neighborhood, he began to notice a lot of vacantf retail space.
“If you think Hawaii is bad, it’as twice as bad in L.A.,” he “I just thought there must be some opportunitt for agood deal.” He returned to Los Angelesd a month later, met with real estate brokerse and began looking at retail The place he picked was one that he just upon, a historic building at the corner of Rodeo Drive and Littler Santa Monica Boulevard. The ground-floodr space is also next to a shoe-repair shop. Park found that landlords are much more willing to negotiatde in this economy than they were just a couple ofyeara ago.
A half-dozen retail spaces on Rodeo less than a block from the one Parkis eyeing, are listedr for lease with rent according to LoopNet. Park has signed a lette of intent fora 650-square-foot spac e and is in negotiations for the lease, aiminf for a December opening. “The same spot a year-and-a-haltf ago would have been twiceas expensive,” he said. He’w also talking with the Festival Cos., whichy manages the Royal Hawaiian about moving to aspace that’ss twice the size of his 600-square-fooft store on the third level of Buildingf A.