<SUBMISSION>
<ACCESSION-NUMBER>0000950123-06-010384
<TYPE>FWP
<PUBLIC-DOCUMENT-COUNT>1
<FILING-DATE>20060811
<DATE-OF-FILING-DATE-CHANGE>20060810
<SUBJECT-COMPANY>
<COMPANY-DATA>
<CONFORMED-NAME>DSW Inc.
<CIK>0001319947
<ASSIGNED-SIC>5661
<IRS-NUMBER>310746639
<STATE-OF-INCORPORATION>OH
<FISCAL-YEAR-END>0129
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>FWP
<ACT>34
<FILE-NUMBER>333-134227
<FILM-NUMBER>061022847
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>4150 EAST 5TH AVENUE
<CITY>COLUMBUS
<STATE>OH
<ZIP>43219
<PHONE>(614) 237-7100
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>4150 EAST 5TH AVENUE
<CITY>COLUMBUS
<STATE>OH
<ZIP>43219
</MAIL-ADDRESS>
</SUBJECT-COMPANY>
<FILED-BY>
<COMPANY-DATA>
<CONFORMED-NAME>DSW Inc.
<CIK>0001319947
<ASSIGNED-SIC>5661
<IRS-NUMBER>310746639
<STATE-OF-INCORPORATION>OH
<FISCAL-YEAR-END>0129
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>FWP
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>4150 EAST 5TH AVENUE
<CITY>COLUMBUS
<STATE>OH
<ZIP>43219
<PHONE>(614) 237-7100
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>4150 EAST 5TH AVENUE
<CITY>COLUMBUS
<STATE>OH
<ZIP>43219
</MAIL-ADDRESS>
</FILED-BY>
<DOCUMENT>
<TYPE>FWP
<SEQUENCE>1
<FILENAME>l20375fwfwp.htm
<DESCRIPTION>FORM FWP
<TEXT>
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<HEAD>
<TITLE>FWP</TITLE>
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<DIV align="right" style="font-size: 10.0pt;color: #000000; background: #ffffff; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; ">
Issuer Free Writing Prospectus <BR>
 Filed by: DSW Inc. <BR>
 Pursuant to Rule&nbsp;433 under the Securities Act of 1933 <BR>
 Registration Statement No. on
Form&nbsp;<FONT style="white-space: nowrap">S-3:</FONT>
<FONT style="white-space: nowrap">333-134227</FONT>
</DIV>

<DIV align="center" style="font-size: 10.0pt;color: #000000; background: #ffffff; margin-top: 18pt; margin-left: 0; margin-right: 0; margin-bottom: 0; ">
<B>DSW Inc.</B>
</DIV>

<DIV align="center" style="font-size: 10.0pt;color: #000000; background: #ffffff; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; ">
Up to 4,560,500 Class&nbsp;A Common Shares, without par value
(Up to 5,244,575 if the underwriter for the offering of the PIES
exercises in full its option to purchase additional PIES)
</DIV>

<DIV align="center" style="font-size: 10.0pt;color: #000000; background: #ffffff; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; ">
Subject to delivery upon exchange of
</DIV>

<DIV align="center" style="font-size: 10.0pt;color: #000000; background: #ffffff;">
6.625% Mandatorily Exchangeable Notes due September&nbsp;15,
2011, issued by Retail Ventures, Inc.
</DIV>

<DIV align="left" style="font-size: 10.0pt;color: #000000; background: #ffffff; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; ">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
This free writing prospectus relates only to the Class&nbsp;A
Common Shares of DSW Inc. described below and should be read
together with the Issuer&#146;s preliminary prospectus dated
August&nbsp;4, 2006 (including the documents incorporated by
reference in the preliminary prospectus) relating to these
securities. This free writing prospectus and the Issuer&#146;s
preliminary prospectus relate only to the Issuer&#146;s
Class&nbsp;A Common Shares that Retail Ventures, Inc.
(&#147;Retail Ventures&#148;) may deliver to the holders of its
PIES<SUP style="font-size: 85%; vertical-align: text-top"><FONT style="font-variant:SMALL-CAPS">sm</FONT></SUP>
(Premium Income Exchangeable
Securities<SUP style="font-size: 85%; vertical-align: text-top"><FONT style="font-variant:SMALL-CAPS">SM</FONT></SUP>),
consisting of Retail Ventures&#146; 6.625% Mandatorily
Exchangeable Notes due September&nbsp;15, 2011 (the
&#147;PIES&#148;), which are mandatorily exchangeable for
Class&nbsp;A Common Shares of DSW unless Retail Ventures
exercises its cash settlement option in connection therewith.
The PIES are obligations of Retail Ventures. The Issuer will
have no obligation of any kind with respect to the PIES. The
Issuer will not receive any of the proceeds from the sale of the
PIES or the delivery of Class&nbsp;A Common Shares to which this
free writing prospectus and the Issuer&#146;s preliminary
prospectus relate.
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 10.0pt;color: #000000; background: #ffffff;">

<TR>
    <TD width="28%"></TD>
    <TD width="1%"></TD>
    <TD width="71%"></TD>
</TR>

<TR>
    <TD valign="top">
    Issuer:</TD>
    <TD></TD>
    <TD valign="top">
    DSW Inc.</TD>
</TR>

<TR>
    <TD style="font-size: 6.0pt">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
    Securities:</TD>
    <TD></TD>
    <TD valign="top">
    Up to 4,560,500 Class&nbsp;A Common Shares of DSW Inc. that may
    be delivered by Retail Ventures on September&nbsp;15, 2011 (or
    earlier if exchange is accelerated upon an acceleration
    following an event of default under the PIES), to holders of
    Retail Ventures&#146; PIES, which are being offered by Retail
    Ventures by means of a separate prospectus.</TD>
</TR>

<TR>
    <TD style="font-size: 6.0pt">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
    Maximum aggregate number of shares deliverable upon exchange of
    the PIES:</TD>
    <TD></TD>
    <TD valign="top">
    Under the terms of the PIES, Retail Ventures will have an
    obligation to deliver (unless Retail Ventures elects to settle
    the PIES in cash), on September&nbsp;15, 2011 (or earlier if
    exchange is accelerated), a maximum of 1.8242 of the
    Issuer&#146;s Class&nbsp;A Common Shares per $50 principal
    amount of PIES, and a maximum of 4,560,500 of the Issuer&#146;s
    Class&nbsp;A Common Shares in the aggregate, subject to exchange
    adjustments as provided in the PIES.</TD>
</TR>

<TR>
    <TD style="font-size: 6.0pt">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="top">
    To the extent that the underwriter for Retail Ventures&#146;
    offering of PIES exercises in full its option to purchase
    additional PIES, this free writing prospectus will relate to up
    to an additional 684,075 of the Issuer&#146;s Class&nbsp;A
    Common Shares.</TD>
</TR>

<TR>
    <TD style="font-size: 6.0pt">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
    Security interest:</TD>
    <TD></TD>
    <TD valign="top">
    The Issuer has been further advised by Retail Ventures that it
    will initially pledge for the benefit of the holders of the PIES
    4,560,500 of the Issuer&#146;s Class&nbsp;B Common Shares held
    by Retail Ventures pursuant to the terms of a collateral
    agreement between Retail Ventures and HSBC Bank USA, National
    Association, as collateral agent.</TD>
</TR>

<TR>
    <TD style="font-size: 6.0pt">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
    Exchange:</TD>
    <TD></TD>
    <TD valign="top">
    The Issuer has been advised by Retail Ventures that, on the
    maturity date of the PIES or any earlier date on which Retail
    Ventures shall be obligated to deliver the Issuer&#146;s
    Class&nbsp;A</TD>
</TR>

</TABLE>

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<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 10.0pt;color: #000000; background: #ffffff;">

<TR>
    <TD width="28%"></TD>
    <TD width="1%"></TD>
    <TD width="71%"></TD>
</TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="top">
    Common Shares in exchange for the PIES (referred to as an
    &#147;exchange date&#148;), it will deliver with respect to each
    $50 in principal amount of PIES, a number of the Issuer&#146;s
    Class&nbsp;A Common Shares equal to an &#147;exchange
    ratio&#148; calculated as follows:</TD>
</TR>

<TR>
    <TD style="font-size: 6.0pt">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="top">
    *If the applicable market value (as defined in the indenture
    governing the PIES) of the Issuer&#146;s Class&nbsp;A Common
    Shares is equal to or greater than the threshold appreciation
    price of $34.95, which is 27.5% above the initial price of
    $27.41, the exchange ratio will be 1.4306 Class&nbsp;A Common
    Shares.</TD>
</TR>

<TR>
    <TD style="font-size: 6.0pt">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="top">
    *If the applicable market value of the Issuer&#146;s
    Class&nbsp;A Common Shares is less than the threshold
    appreciation price but greater than the initial price, the
    exchange ratio will be equal to $50 divided by the applicable
    market value, which is between 1.4306 and 1.8242 Class&nbsp;A
    Common Shares.</TD>
</TR>

<TR>
    <TD style="font-size: 6.0pt">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="top">
    *If the applicable market value of the Issuer&#146;s
    Class&nbsp;A Common Shares is less than or equal to the initial
    price, the exchange ratio will be 1.8242 Class&nbsp;A Common
    Shares.</TD>
</TR>

<TR>
    <TD style="font-size: 6.0pt">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
    New York Stock Exchange Symbol for the DSW Class&nbsp;A Common
    Shares:</TD>
    <TD></TD>
    <TD valign="top">
    DSW</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10.0pt;color: #000000; background: #ffffff; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; ">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Issuer has filed a registration statement on
Form&nbsp;<FONT style="white-space: nowrap">S-3</FONT>
(including a prospectus) with the United States Securities and
Exchange Commission, or the SEC, for the offering of the
Issuer&#146;s Class&nbsp;A Common Shares to which this
communication relates. You should read the prospectus in that
registration statement and other documents the Issuer has filed
with the SEC for more complete information about the Issuer and
this offering. You may get these documents free of charge by
visiting EDGAR on the SEC Web site at www.sec.gov.
Alternatively, the underwriter for the offering of the PIES will
arrange to send you the prospectus if you request it by calling
toll-free
(888)&nbsp;<FONT style="white-space: nowrap">603-5847.</FONT>
</DIV>

<DIV align="left" style="font-size: 10.0pt;color: #000000; background: #ffffff; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; ">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
ANY DISCLAIMERS OR OTHER NOTICES THAT MAY APPEAR BELOW ARE NOT
APPLICABLE TO THIS COMMUNICATION AND SHOULD BE DISREGARDED, SUCH
DISCLAIMERS OR OTHER NOTICES WERE AUTOMATICALLY GENERATED AS A
RESULT OF THIS COMMUNICATION BEING SENT VIA BLOOMBERG OR ANOTHER
EMAIL SYSTEM.
</DIV>
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</SUBMISSION>
