12 pairs of loafers under $400 to add to cart this season

21 March 2024
By Fashion Quarterly

Step stylishly into autumn with a timeless new pair of loafers in your wardrobe.

New York SS23 street style. Image: spotlight.launchmetrics.com

Few shoe styles are as perennially stylish as the loafer. With a history dating back as far as the early 1900s, loafers became increasingly popular around the ’50s and ’60s when they became the shoe du jour for Ivy League students in America. This was also the time when the iconic Gucci Horsebit was born — a stalwart style in the Maison’s collections to this day. 

Since their inception, we’ve seen many different iterations of the design come and go, yet classics like the penny loafer remain in high demand. If you’ve been thinking about how to fill the gaps in our wardrobes (and shoe shelves), what better staple to invest in than a timeless pair of loafers? 

From polished patent to classic tasselled, we’ve rounded up a selection of this season’s trending loafer styles to consider adding to cart.

The Penny Loafer

An iconic silhouette since the mid-1900s, the penny loafer is proving to be a steadfast style this season, appearing in the collections of multiple local footwear designers. Known for its signature split strap, the shoe got its name back in the ’50s, when people would keep coins in their shoes in case they needed to make an emergency call. Given their evergreen nature, they’d make a smart investment for anyone who prefers an unfussy silhouette.

Isabella Anselmi ‘Adelaide’ flat, $210, from Merchant 1948
Ecco ‘Modtray’ loafer, $339.99
Mi Piaci 'Skye' loafer, $260
Bronwyn ‘Carter’ loafer, $350


For a more contemporary variation, you can’t go wrong with a chunky loafer. Featuring a sizable and toothy rubber sole, this style can literally elevate your look. We suggest pairing them with your favourite jeans or dressing them up with a pair of sleek tights and a skirt for winter.

Isabella Anselmi ‘Ezra’ loafer, $260, from Merchant 1948
Jeffrey Campbell ‘Skooled’ loafers, $300, from Shoe Connection
Mi Piaci ‘Florentine’ loafer, $300
MW by Kathryn Wilson ‘Lucinda’ loafer, $319


For a style that’s understated with a touch of Western flair, you’ll want to reach for a pair of tasselled loafers. Initially rising to popularity amongst mid-century men, tasselled loafers have since solidified themselves as a versatile silhouette for all genders. With equal focus placed on function and form, what’s not to love?

Nicole Rebstock ‘Demi’ loafer, $319
La Tribe ‘Isla’ tasselled loafer, $360
Mi Piaci ‘October’ loafer, $300
Dr Martens ‘Adrian’ tassel loafer, $360

Loafer mules

One of the worst parts about buying new shoes is breaking them in. Thankfully, one of this season’s trending loafer styles are a hybrid of a mule and a loafer — meaning you can slip them on and wear them with ease without worrying about the subsequent blisters.

Merchant 1948 ‘Nas’ mule, $260
Kathryn Wilson ‘Hilary’ slide, $329
Andrea Biani ‘Elena’ loafer, $290
Mi Piaci ‘Wren’ loafer, $300


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Fashion Quarterly Winter 2023 Cover
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