I'd put a small r&d team in charge of studying the nalbending weaving/knotting techniques of the ancient vikings. We have found woven wool socks that are over a thousand years old in burial mounds, and they are still watertight today.

That r&d team would be in charge of figuring out how to replicate those techniques using modern technology and materials.

Also, get some material science nerds to see if they can develop hollow carbon nanotubes filled with non-Newtonian fluid, so that the entire structure of the sock itself could serve like a gel cushion. Put Dr Scholl's out of business.