Penney’s no loafer: Florsheim Group Inc. shares rose as much as 21 percent after the Chicago company said J.C. Penney Co. agreed to carry its shoes in more than 400 stores worldwide. Florsheim ...

The King of Pop referred to the black leather loafers as his "magic shoes," and the top bid stood at $50,000 Monday. The loafers with tassels were made by the Chicago-based shoemaker Florsheim.

In the Philippines, prices of men’s Florsheim shoes may go up to P10,000. “But we have products that can last for decades,” Leung says. These products are those made of genuine leather.