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Penny loafers are moccasin-style shoes with a diamond-cut upper and were named after the pennies that were once housed in the trim. They were historically associated with high society and formal wear, but have since become more casual. Gucci popularized the penny loafer with a metal chain, and Michael Jackson made them iconic in the 1980s. Today, they are available in unisex styles and have been revamped for women with wedge and stiletto designs.
Penny loafers are moccasin-style shoes that have a diamond-cut upper, occasionally along with tassels or other embellishments. During the 1950s, pennies were often housed in the trim as a fashion statement, hence the name. Before penny loafers, regular loafers were first exported from Norway in the 1930s and sold in the United States under the brand name “Weeguns.” Although these shoes were once considered an exclusive part of men’s fashion, today they come in unisex styles. Most popular in brown and black, these loafers are available in many colors and are often made of suede, cordovan leather, or patent leather.
In the US, penny loafers have historically been accepted as a fairly formal style of footwear in certain circles and associated with members of high society, including lawyers, Wall Street businessmen, and high school students. In the late 20th century, implying that a person was wearing “tasseled loafers” was considered an insult and an attack on their social standing. For example, during the run-up to the 1993 US presidential election, then-President George HW Bush complained that support for his opponent, Bill Clinton, came from “every lawyer who ever wore a tasseled loafer.” ». Also in the late 20th century, to imply that someone was “light on their loafers” was to question the person’s sexuality.
Luxury brand Gucci was the first to make a penny loafer that featured a metal chain at the top of the shoe, similar in shape to a horse bit. This small design addition improved the acceptance of these shoes as formal footwear, and many other manufacturers have since copied the Gucci loafer style. A more casual style of moccasin is the “deck shoe” or “boat shoe”, which features the same style of stitched moccasin but is much less structured and much softer, causing the heel to compress.
During the 1980s, pop star Michael Jackson wore penny loafers so often that they became an iconic part of his signature look, along with sparkly socks, a black hat, and a sequined glove. Along with some of these accessories, the shoe received a fashion revival in 2009 after the singer’s death. Penny loafers for women have gotten a major makeover in recent years, and are now available in wedge platform and stiletto heel designs.
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