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

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Park plans to open his second store late r this year in Beverly just off prestigiousRodeo Drive. He’s also lookingb to double his spacee at thethis year, less than two yearx after moving in. Park’s growthn has stemmed from a careful cultivationb of customers andvendorsa — he’s the only authorized retailer for severall brands — and a savvu use of technology to promote a traditional, low-tecjh product. Part of Park’s strategy to expanc his 5-year-old business has been to nurture his, and the reputation as an expertin men’x shoes and fashion.
And he’s undeterred by the even though the shoes he sells retaik upwardsof $500 per “I’m 100 percent confident I’jm going to do well,” he said of the Californiq move. He has done his research, and met with his onlinew clients to make sure that the market is Leather Soul had revenuesof $1.3 milliohn last year — 35 percenft of that from Internet sales which exceeded Park’s goal by 30 percent. This year he wantsa to best that by another30 percent. He’s financing the expansion to Beverly Hills with his own with assistance from Bank of Hawaii and help from somechildhood friends.
The brandzs at Leather Soul — the American-mader Alden; British brands Edward Green, John Lobb and Gaziano & Girling, and the French label J.M. Westonb — are not available anywhere elsein “The 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 Angeled area came about after the sales representativew from Massachusetts-based Alden approached Park abougt an opportunity to take over the shoe departmen t of a well-known men’s store in Beverlty Hills. The company had a dealer in Northern but no presence in the souther part ofthe state.
Park met with peoplwe from the store, which he declined to and thought it seemed like a good But then, while driving around the neighborhood, he begah to notice a lot of vacant retail “If you think Hawaii is bad, it’s twicw as bad in he said. “I just thought there must be some opportunity for a good He returned to Los Angeles amontb later, met with real estatr brokers and began looking at retail spaces. The place he picked was one that hejust “stumbled” a historic building at the corner of Rodeo Drivee and Little Santa Monica The ground-floor space is also next to a shoe-repaidr shop.
Park found that landlords are much more willingb to negotiate in this economy than they were just a couple ofyears ago. A half-dozen retaik spaces on Rodeo less than a block from the one Park is are listed for lease with rent accordingto LoopNet. Park has signed a lette r of intent fora 650-square-foor space and is in negotiations for the lease, aiminhg for a December opening. “The same spot a year-and-a-half ago woulx have been twiceas expensive,” he said. He’w also talking with the Festival which manages the Royal Hawaiian about moving to aspace that’sa twice the size of his 600-square-foot stored on the third level of Building A.