For decades, the most fashionable item to accessorize with was a hot, trendy purse or bag. However, that trend is moving pretty quickly towards highly fashionable heels and footwear in general. The shoe industry is expected to hit a value of $195 billion (yes, with a "B") by 2015, making footwear companies a killer investment opportunity.

Next month Selfridges will be hosting its very own “Shoe Carnival”. The London store has plenty to celebrate, now selling 10,000 pairs of shoes a week on average (yes, really) since the unveiling of its 35,000 sq ft women’s Shoe Galleries in September 2010, an area which carries more than 150 brands. And as a, er, footnote, Selfridges also boasts the world’s largest men’s shoe department, where sales have increased by more than 100 per cent since it opened in November last year. Rival department store Harrods, meanwhile, devotes a whole 22,750 sq ft to women’s shoes, featuring 75 brands, a multi-brand “Shoe Salon” and no less than two Manolo Blahnik boutiques. Read More