Formal footwear is on the rise

Written by Kezia Pribadi | Read in Indonesian

The elevation of sneakers to become a status symbol is an impact of the pandemic lifestyle. However, there has been a rise in the popularity of traditional dress shoes. People are ditching their trainers for something that is comfortable yet still a statement piece.

Dress shoes may seem old fashioned and are often considered preppy, conservative, or ritzy, but that has not always been the case, as there have been exceptions throughout history. The most famous example would be the Beatle boots made popular by, of course, The Beatles, which carried an image of youthful exuberance and rock and roll.

These days, traditional dress shoes are upgraded with a modern take. They are no longer simple black or brown shoes, but come in an array of colours, prints and materials.

Although, the old and conservative connotation still remains in the heads of many within the fashion industry. For example, Pierre Hardy, the head shoe designer at Hermes, said, “There are never loafers at Hermes show. It was really the preppie, right-wing, reactionary shoe.” But Hermes still produces and sells loafers regardless and sales have been spiking.

According to the menswear manager at Browns, Thom Scherdel, there has been a noticeable shift from fashionable sneaker styles to more formal footwear. “As we see fewer sneakers go down the runway, customers are taking notes. People looking to mix and match casual and sartorial pieces in their wardrobe,’’ he said.

A survey conducted by the Business of Fashion in late 2022 found that the majority of male respondents in the US and the UK are more likely to buy dress shoes than casual shoes.

Opportunities arise for 2023

As designer shoes are categorised as a “power category”–meaning that they function as opportunities for fashion brands to show logos or signature stitching whilst also allowing customers desires of experimentation satisfaction–, designer shoes are also revenue drivers. They make up 10%-25% of overall sales for some of the leading luxury brands. In 2023, there is a promising growth opportunity for designer footwear to attract both male and female consumers to spend more than in 2022

Local brand enthusiasts are also granted with plenty of options when it comes to formal dress shoes. Among them is Mario Minardi, which has been around since 1982. The fact that the brand has survived for over 40 years is a testament to the long lasting appeal of formal dress shoes in Indonesia. Indeed, trends may change, and the key to these shoes’ survival is the ability to adjust to fashion trends.

Source: Mario Minardi Official Store on Tokopedia

Today, formal shoes are not only worn with suits, but also with jeans and t-shirts, overalls, or shorts and skirts. The way dress shoes were worn in the past are elevated and they can even be worn daily. With formal tailoring regaining traction, there is now a comfort side of formal wear that attracts a greater market.

Sales in dress shoes for both men and women grew by double digits in 2022. Beth Goldstein, the executive director and industry analyst of accessories and footwear at NPD Group, said that sales of hybrid footwear that combines dress-shoe silhouettes with sneaker-like soles are also up significantly, compared to both last year and pre-pandemic. Other data from NPD suggested that leisure and performance footwear sales are declining by 11% and 7%, respectively, in the second quarter of the year.

Sneakers remain popular among designer brands

However, sneakers continue to dominate the line-up at the majority of designer brands' inventories, ranging from Balenciaga to Prada. Thus, dress shoes may take time to become mainstream. This year, inclusive styles such as loafers, oxfords, pumps, sandals and boots are showing a strong growth. As social events have come back and people have returned to work, the need for more occasion-appropriate pieces is increasing as well.

Senior Director of Fashion and Trends at footwear retailer DSW, Regina Popp, said that loafers are indeed in high demand, and that it is increasingly important for fashion in the post-pandemic age. “As fashion takes a more tailored turn, it’s only fitting that loafers catch on. They tick the boxes of comfortable, easy to style and pair well with denim, yet they offer a fresh alternative to the white sneakers.”

Stylish stars such as Tessa Thompson, Hailey Bieber and Emma Chamberlain have been seen styling loafers into their wardrobe. Whether they are chunky loafers, worn with scrunched-up socks, with buckles, or embellished, formal dress shoes are just as experimental as they are timeless.

However, it is important to note that this is not indicative of a reversal of trends that was happening prior to the pandemic. Nor a sign that formal footwear is to overtake sneakers as the world’s footwear of choice. It is simply a sign that sneakers are no longer the only option that befits today’s lifestyle.