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men dress shoes: what is the string loop inside the shoe for???

Here is a picture..
 

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I think that it has to be used for hanging the shoes up on some shoe hooks of some sort, but like others here, I have never seen it before. Where are these dress shoes that you buy with these loops manufactured? Are they European maybe?

I've never seen it in British* or Chinese shoes. Are they expensive shoes?

* British shoes are made in China anyway.
 
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They come in boxes from the factories.
Here's a pair for example on Made-in-China.com
Latest Men Dress Shoes with High Quality - China Shoes, Men Shoes
"Package: 1 pair per box, 10pairs/12pairs/15pairs per carton"

Stands to reason really, much cheaper to have someone building and putting shoes in boxes in China than at the distributor or shoe shop in the US or UK or wherever. Plus the boxes are branded and labelled as well of course. In fact most items of apparel comes in cartons and boxes for shipping, but some items have individual retail boxes, e.g. shoes, shirts and ties.
 
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