A high-heeled shoe is configured to utilize exchangeable high-heels. A biased, pivoting latch is formed into the sole of the shoe at the heel portion of the sole. A heel stem or support is fixedly attached to the shoe and extends from the sole and about the pivoting latch, terminating in a tip. The stem has a length at least approximately equal to a desired length of the high-heel. An exchangeable high-heel is characterized by a generally hollow body having a resilient stem holder therein configured to releasably receive and hold the heel stem. A reinforcement is provided at a rear of the exchangeable high-heel that extends from a top to approximately a bottom of the exchangeable high-heel and carries a catch proximate the top thereof. The latch includes a flange that engages the catch while the latch is normally biased.