Shoes are big news and even bigger business this week.

Firstly, Labelux, a private luxury firm that owns Derek Lam and Bally, bought Jimmy Choo for a whopping $850 million.

Then a single pair of Giuseppe Zanotti stilettos covered in Chopard jewels (worn by supermodel Anja Rubik at Cannes) sold to a private buyer for almost $200,000!

In court, Christian Louboutin has challenged Yves Saint Laurent with a $1 million-plus trademark-infringement suit (which began in April) for using the Louboutin "signature" red-soled shoe. "Red outsoles are a commonly used ornamental design feature in footwear, dating as far back as the red shoes worn by King Louis XIV in the 1600s and the ruby red shoes that carried Dorothy home in The Wizard of Oz," says YSL in court papers. The case continues...

Just because we love shoes, here's out pick of the 10 most iconic ones of all time.