I am reminded of a story about a European shoe buyer (for a chain of shops) who found these lovely men's shoes in a Communist country at an extremely low price. He bought a huge number for his chain, and they sold well as they were very 'low price'. But after a few weeks the returns became astronomical: the shoes were falling apart.
He went back to the factory very upset and asked what were they doing? After some confusion the factory asked him why was he selling their mortician coffin shoes in shoe shops.
Yes, the Chinese factories make the Western brand name shoes for those sorts of prices, but they are starting to sell their own versions direct to the public at factory prices. But beware: corners may have been cut! See our article on Made In China.
Are the soles genuine Vibram or forgeries? Dunno.
I remember some shoes I bought from an large Australian shoe company where the locals hadn't checked adequately on what the Chinese were doing to cut the manufacturing costs. The factory had swapped out the more expensive waterproof fibreboard inner sole plate for cheaper hard cardboard. The nature of the fibreboard wasn't in the specs you see. The cheaper cardboard was great stuff - until the first time it got wet when it promptly became soggy mush. Then the sole sort of collapsed.