Just discovered two incredible pairs of convertible shoes via Cyanatrend blog
First pair: Nat-2 shoes convert from sneakers into sandals....
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Second pair: Goodie 2 Shoes by Natalie Cosette Thorne
Heels with convertible height
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The Nat-2 shoes are currently on sale for a pretty tempting price (links on their website), while the Goodies seem to just be prototypes at the moment.