It seems like everyone and their mom are coming out with foldable flats these days. It's probably because heel heights have gone the way of strippers (Case in point: I've recently taken to walking around NYC in these, which I bought, BTW, with money).
I've gotten a couple different brands of the flats and think Yosi Samra's are the best. I was given pairs in black suede and rose gold leather, though they come in a billion colors. $55 a pair.