Men’s Footwear Is Smartening Up

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.