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Jeannie Lee
Owner of Satine Boutique
Los Angeles
Call it a double-down bet: Jeannie Lee, owner of women's clothing store Satine Boutique in Los Angeles, moved her shop across the street this summer into a space twice as big as her previous one.
"It's a risk, but it's a decision that we feel really good about," she says.
Although her lease was ending, Lee hadn't thought about moving. But her landlord approached her with a deal too good to pass up: A much-bigger store at a per-square-foot rate almost identical to the one she signed up for six years ago for her original store, even though rents have grown substantially since then in L.A.'s sleek West 3rd Street shopping area. Her landlord sealed the deal by offering to invest in the new store's construction costs.
"We are still, at the end of the day a small business. It's not the time for me to invest $1 million into a new space," Lee says.
Lee is using her new breathing room to expand her selection. Satine Boutique houses high-end designers like Azzedine Alaia next to lesser known, independent designers. The new location has another perk: Parking spaces behind the store for customers.
Lee made the move in September, and already sees a difference in sales: "It has proven to be worthwhile."
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