Italian designer Alberto Moretti announced the launch of exclusive 24 carat gold shoes. The shoes are made from velvet and covered in gold. The shoes, pumps for women and loafers for men, cost £1,700 or about $2,664. They were presented for the first time during the Monte Carlo Grand Prix on May 25, 2013. Alberto Moretti's gold pump and loafer are exclusively distributed through department stores Barneys New York, Fred Segal Los Angeles, Harrods London, The Swank Hong Kong and Level Shoe District Dubai. Celebrities who have worn Alberto Moretti's shoes include Lady Gaga and Ryan Gosling. The price of Moretti's "traditional" velvet loafers on his website start at about $460 or 346 euros.