Why are shoes so expensive?

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THIS spring, nearly every top designer has a ‘Cinderella’ slipper, a shoe priced so high that it should come with a handsome prince -- or an hour with a male escort, at least. Christian Louboutin’s webbed suede and button sandals sell for $1,345, while Versace offers a $1,450 satin pump festooned with nothing more than a few tassels. Dior’s platform slingback with beaded heel runs $1,030, while Balenciaga’s pink and brown braided gladiator sandal goes for $1,375.

Then, there’s the $1,045 Lanvin flat (pictured left) that should land at Barneys in Beverly Hills any day now. Already, women are salivating for this sandal adorned with a couple dozen leather-covered studs. Run, don’t walk. There’s a waiting list.

‘Footwear is having its runway moment,’ says Marshal Cohen, chief analyst for New York market research firm NPD Group. Designers are ‘raising the cachet of the brand by having one extravagant style, and that one makes the other pairs seem more reasonable.’

In other words, the glass slipper has shattered and consumers have resigned themselves to splurging. Case in point: You pick up a sandal and sigh with relief when it costs less than your monthly car payment. And those sale endorphins surge when you see $1,000 platforms marked down to $675.

WHO’S READY TO BURN THEIR LOUBOUTINS AND GO BAREFOOT?

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