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Park plans to open his second stor later this year inBeverly Hills, just off prestigious Rodeo He’s also looking to double his space at the this less than two years afteer moving in. Park’s growth has stemmed from a careful cultivatio of customers andvendors — he’s the only authorizedd retailer for several brands — and a savvy use of technologty to promote a traditional, low-tech Part of Park’s strategy to expand his 5-year-old businesds has been to nurture his, and the reputation as an expert in men’s shoexs and fashion.
And he’s undeterred by the recession, even though the shoees he sells retail upwardsof $500 per “I’m 100 percent confident I’m goingf to do well,” he said of the California He has done his research, and met with his onlines clients to make sure that the market is Leather Soul had revenues of $1.3 million last year 35 percent of that from Internetg sales — which exceeded Park’d goal by 30 percent. This year he wantsz to best that by another30 percent. He’s financingb the expansion to Beverly Hillx with hisown money, with assistance from Bank of Hawaiii and help from some childhooxd friends.
The brands at Leather Soul the American-made Alden; Britisy brands Edward Green, John Lobb and Gazianp & Girling, and the French label J.M. Weston are not available anywhere elsein “The products I they’re all the best quality,” he said. “Even in a bad people still wantgood quality.” The decisiohn to go to the Los Angeles area came about after the salesw representative from Massachusetts-based Alden approached Park about an opportunity to take over the shoe department of a well-knownn men’s store in Beverly Hills.
The company had a dealer in Northernm California, but no presence in the southern part of the Park met with people fromthe store, which he declinesd to name, and thought it seemexd like a good opportunity. But then, while driving arounxd the neighborhood, he began to notices a lot of vacantretail “If you think Hawaii is bad, it’s twicd as bad in L.A.,” he said. “I just thought thers must be some opportunity for a good He returned to Los Angeles amonth later, met with real estatr brokers and began looking at retailp spaces. The place he picked was one that hejust upon, a historic building at the corner of Rodep Drive and Little Santa Monica Boulevard.
The ground-floo r space is also next to a shoe-repaifr shop. Park found that landlords are much more willing to negotiate in this economy than they were just a couple ofyeard ago. A half-dozen retail spaces on Rodeo less than a block from the one Park is are listed for lease with rent accordingto LoopNet. Park has signed a letter of inten fora 650-square-foot space and is in negotiations for the lease, aiming for a December opening. “Ths same spot a year-and-a-half ago would have been twicreas expensive,” he said. He’s also talking with the Festivalo Cos.
, which manages the Royal Hawaiiah Center, about moving to a spacr that’s twice the size of his 600-square-foot storr on the third level ofBuilding A.
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