decorative stitching?

[yoyo]

I was looking at a pair of shoes on which i saw real goodyear-style stitching around the top of the sole. However, on the bottom, there is no visible stitching (i looked for a channel). How/why are they both cemented and stitched?

These were mercanti fiorentini btw.

 

[Toiletduck]

I've seen some Santoni FAMs with "goodyear" written on the sole which don't have visible stitching on the soles either

 

[fredrik80]

The stitching is probably covered up by a leather piece, i have a pair of Stefanobi monkstraps that are just like yours, they are goodyear welted but the bottom sole is perfectly smooth leather with no visible signs of stitching.