I attempted to use Kumihimo to make shoelaces. Then I gave up.
First attempt used a 16-thread rotating stitch (kongogumi) with 100% cotton DK in red and purple. It looked good and worked OK but the laces snapped after a few months of use.
Second attempt (without much hope of it actually working): the same stitch with strips of carrier bag (single width, 1cm across). It's coming out quite thick and you do have to pull the cord through the hole, which stretches it a bit. The threads keep coming out of their slots.