Wikipedia
Goodyear welt
A Goodyear welt is a strip of leather, rubber, or plastic that runs along the perimeter of a shoe outsole. The machinery used for the process was invented in 1869 by Charles Goodyear, Jr., the son of Charles Goodyear. Goodyear welted construction is time-consuming; invented hundreds of years ago, it is still considered one of the finest methods of shoe construction.