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BoF Insights | How Men’s Footwear Is Smartening Up in 2023

Male shoppers aren’t ready to give up on sneakers just yet, but dressier shoes are gaining favour, according to a BoF Insights survey.
Display Of Expensive Men's Brogue Shoes In A Luxury Leather Footwear Store
Display Of Expensive Men's Brogue Shoes In A Luxury Leather Footwear Store (Getty)

If menswear designers send more boots and loafers — and fewer sneakers — down the runway in Milan and Paris this season, it’ll be a case of fashion following trends as much as setting them.

Formal footwear is on the ascendant among male shoe shoppers for the first time in years, according to new research from BoF Insights’ latest report, “The New Statement Shoe: Reimagining Designer Footwear.” A survey of high-net-worth individuals conducted in late 2022 in partnership with luxury research firm Altiant for the report, found that the majority of male respondents in the US and UK are more likely to buy dress shoes than casual styles in the months ahead.

Regardless of the style, 2023 provides designer footwear brands with a global growth opportunity — both male and female shoppers participating in the BoF Insights research in the US and UK as well as China expect to spend more on new designer shoes in 2023 than in 2022.

Yet brands have work to do to capture that spend as shopper preferences shift. Sneakers continue to dominate the lineup at most designer brands, accounting for more than half of the in-stock US inventory of fashion houses ranging from Balenciaga to Prada, according to research from Edited published in the BoF Insights report.

To find out more about the designer footwear market, download BoF Insights’ report on “The New Statement Shoe: Reimagining Designer Footwear.”

BoF Insights’ archive also includes research and analysis on Gen-Z and fashion, designer bags, resale, digital fashion, fashion’s supply chain and sustainability.

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