Is the euro to blame for $1,000 price tags on designer shoes? Why the cost of luxury footwear has soared so high

PUBLISHED: 15:37 EST, 20 June 2013 | UPDATED: 15:37 EST, 20 June 2013

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Shoe prices have gotten 'out of whack' according to George Malkemus, the president of Manolo Blahnik - and it seems the euro might be to blame.

A few years ago, a pair of designer shoes might have set you back about $400. Now, women are paying $1,000 and up for luxury footwear, and designers are blaming the cost of production in Europe.

'It is more expensive to make shoes now,' Christian Louboutin told The New York Times. 'And it’s for a very boring reason.'

Valentino Camouflage Crystal-Coated Leather Ballet Flats $1,750

Alexander McQueen Embellished Metallic Leather Pumps $1095.00

The price of luxury: Valentino crystal-coated leather ballet flats, $1,750 (left); and Alexander McQueen
embellished metallic leather pumps, $1095 (right)

Since the introduction of the euro in 2002, and its continuing strength against the U.S. dollar, production costs have increased to such an extent that some luxury houses are buying their own tanneries - and the consumer seems to be paying the price.

'Now, there is a gap of raw materials and leather, which puts the prices up very high,' explained Mr Louboutin, who admitted that his costs have doubled in the last five years.

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Prices for classic leather heels now commonly range from $600 to $1,400, a man-style oxford shoe can cost upward of $1,000 and boots can cost $2,000 or more.

At the low end of the spectrum, standard patent-leather pumps cost $575 at Jimmy Choo, and $625 at Christian Louboutin - which are considered 'reasonable' in the designer market.

Brunello Cucinelli Metallic Leather Loafers $1170.00

Flats cost a fortune: Brunello Cucinelli metallic leather loafers, $1,170 (left), Prada studded loafer, $1,100 (right)

Giuseppe Zanotti Gem Studded Leather High-Top Sneakers $1750.00

Gold tinted: Saint Laurent striped suede and metallic-leather sandals, $1,195 (left), Giuseppe Zanotti gem studded leather high-top sneakers, $1,750 (right)

Stella McCartney Wooden Heel & Faux Leather Pumps $1000.00

Architecturally sound: Nicholas Kirkwood sculpted leather wedge pumps, $1,095 (left), Stella McCartney wooden heel and faux leather pumps, $1,000 (right)

On the other end of the scale, Christian Louboutin also sells leather platform heels embellished with 160 crystals for $6,395. At Barneys New York, the average purchase in the shoe department is about $850.

'The prices have shot up dramatically,' Daniella Vitale, chief merchant and executive vice president of Barneys New York, told WWD last year.

Just like a designer handbag, shoes have proved resilient in the after-effects of the recession, mainly because, while a woman might wear a designer dress a handful of times in one season, shoes are seen as an everyday staple.

Isabel Marant The Carol studded leather sandals $1,035

Chloé Susanna studded leather boots $1,345

Coveted studs: Isabel Marant studded leather sandals, $1,035 (left), Chloé studded leather boots, $1,345 (right)

Christian Louboutin Daffodile 160 crystal-embellished leather pumps $6,395

Charlotte Olympia Decodent metallic leather sandals $1,075

Overstated luxury: Christian Louboutin 160 crystal-embellished leather pumps, $6,395 (left), Charlotte Olympia
decodent metallic leather sandals, $1,075 (right)

Christian Louboutin Pigalle 120 patent-leather pumps $625

Jimmy Choo Abel patent-leather pumps $575

Understated luxury: Christian Louboutin patent-leather pumps, $625 (left), Jimmy Choo patent-leather pumps, $575 (right) are considered on the 'reasonable' end of designer shoe spectrum

'Women have figured out quickly that shoes are a less expensive way of updating your wardrobe,' explained Bonnie Takhar, the president of luxury shoe brand Charlotte Olympia, which sells suede slippers for $795 and embellished platforms for $1,075.

Fluctuating exchange rates are also driving up prices of European-designed shoes, but as more customers associate higher prices with better shoes, the market continues to thrive - slowly pushing prices up even further.

Daniella Vitale, the chief operating officer of Barneys New York, which has more than 140 shoes priced at $1,000 for sale online, said: 'A pair of Azzedine Alaïa sandals may cost $1,400, but at the end of the day, we are selling out of them.'

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I don't know if the Euro is to blame but I do know I wouldn't spend a thousand pounds on a pair of shoes. Even if they were made of diamonds.

- Au Contraire , UK, 21/6/2013 16:38

Click to rate Rating 4

I love a pair of gorgeous shoes, but dear me, those sparkly Louboutins are completely hideous!

- MrsR , Brighton, 21/6/2013 14:24

Click to rate Rating 6

Most of these shoes are some of the ugliest shoes i've ever seen

- Egualva , nowherville, United States, 21/6/2013 08:34

Click to rate Rating 30

I must say that young people like to experiment and give new looks a try. However, to suffer irreparable damage to your feet that must carry you for the rest of your life is down right stupid. Definitely heels enhance women's legs and overall appearance, but whether they are kitten heels, mid size heels or huge ones makes little or no difference. Actually super high heels look disproportionate and platforms, with few exceptions, make women look as if they were born with club feet. Well made, classic shoes that assure comfort is the only logical way to go. In any case shoes, especially high heeled ones, do not last very long for they get scraped and scratched so it is silly going over the top price wise, unless of course somebody else picks up the tab.

- MiniLin , Boston, United States, 21/6/2013 04:23

Click to rate Rating 2

only a fool would pay $1000 for a pair of shoes & there is no shortage of them walking around...........

- normalsensibleperson , chicagoland usa, 21/6/2013 04:19

Click to rate Rating 18

an american co should start here make safe comfortable ones here and make a style that stays. not like the stripper and foot criplers

- jr23 , cape coral fl usa, 21/6/2013 03:55

Click to rate Rating 9

rising costs? yeah, maybe a bit to fault, more so the daft ones who pay at any cost, like designer glasses, cough up the cash and we'll just charge a bit more next time, viscous circle,

- Serge A Storms , NWF, United States, 21/6/2013 03:49

Click to rate Rating 6

I might be a little more understanding if the shoes weren't so relentlessly stupid and ugly.

- pepperbeast , Christchurch New Zealand, 21/6/2013 02:59

Click to rate Rating 28

Rubbish! You can get Primark flat ties for a fiver! Stop pandering to these non sensical designer lovies who who don't live in the real world as far as price goes!

- Ashenhurst43 , Cheltenham, 21/6/2013 02:35

Click to rate Rating 13

You think these shoes cost lots of money now? It's nothing next to what women will be paying for foot doctors in the future!

- Emily , HudsonValley NY, 21/6/2013 02:30

Click to rate Rating 17

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