A footwear construction including a portion of an upper and/or sole, a strap defining a sleeve, and a cord joined with the upper and/or sole portion, extending toward the strap and slidably housed in the sleeve. An adjustment element is selectively locatable along a part of the cord. By sliding the cord relative to the sleeve and optionally adjusting the location of the adjustment element, the spatial relationship between the strap and the upper and/or sole portion can be selectively adjusted to accommodate a particular dimension of a wearer's foot and/or ankle. A method is also provided for manufacturing footwear including the above components.