Yes you are right, in business we have different types of brand, if you have a good brand you'll definitely earn the most money, that's why we are all expected to give out the best.Branding has many benefits but what I believe to be the core reason for branding is to differentiate it from other similar products in the market.
There are different types of foot wears in the market but branding will help you tell, if it's Gucci, Versace or other brand names.