Choo may doom fashion luxury

The announcement last week that luxury shoemaker Jimmy Choo is creating a limited-edition collection for the bargain merchant H&M makes one wonder whether the high-end fashion market will survive the economic crisis.

If the luxury market does survive, it certainly won’t be as dazzling. Bargain designer shoes will sever the connection between product and fantasy.

It makes sense that H&M —- which, along with Target, has led the way in bringing a designer point of view to modest price points —- would want to take advantage of the name recognition of this luxury shoe brand. In addition to footwear, the Jimmy Choo for H&M collection will include ready-to-wear, as well as men’s shoes and accessories. It will be sold in about 250 stores worldwide beginning Nov. 14.

Shoes have always been fashion’s great equalizer. A woman is never too fat or too old, too short or too thin to indulge in this singular luxury. She may not wear the highest heel or the thickest platform, but she can always take part in the fantasy.

Women have been known to coo over Jimmy Choo shoes because of their fanciful designs and their sex appeal. Their exorbitant prices —- a basic pump costs about $550 —- has only added to their allure. But there’s something about cheap Jimmy Choo shoes that doesn’t feel right.

There’s no other item in a woman’s wardrobe that is as fetishized as a pair of expensive designer shoes. No one pretends that a 3-inch heel is ever going to be comfortable, but the conventional wisdom has been that an expensive pair of stilettos is going to be more comfortable than cheap ones because all that high-priced engineering is going to make the heel more stable, thus making walking without tipping over less of a challenge.

Women have always known that to be an exaggeration. But it sounded good. It justified the cost.

The Jimmy Choo shoes for H&M will undoubtedly be striking. And if history is any indication, there will be a stampede of shoppers the day the shoes go on sale.