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All the cool girls keep wearing these £850 penny loafers – here are 3 affordable alternatives

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Fashion Month might be over and done with, but that doesn’t mean we’re no longer obsessing over all the It girls that flocked the streets of our favourite cities, sporting this season’s trending pieces. From splashy leopard print coats to oversized barn jackets and knee-high riding boots, the fashion set put forward plenty of style inspiration for the cold-weather months ahead.

A shoe that comes round season after season, and can be found in the capsule wardrobes of more than a few of our favourite celebrities, is the loafer. Paired with tailored trousers, or even some barrel jeans, white socks and a casual crewneck, the smart silhouette is the A-list’s go-to footwear for pulling off that effortlessly chic off-duty look.

Kendall Jenner’s simple black pair from The Row exudes quiet luxury dressing; Dakota Johnson’s Saint Laurent loafers with subtle ruching along the sides add a touch of texture to an otherwise everyday shoe; and Katie Holmes’ polarising flats by Acne Studios embrace the square-toe trend. But no design has captured our attention more than Hailey Bieber’s Miu Miu blue suede penny loafers.

The preppy shoe got its nickname in the 1930s, when the strap on the loafer had a small split which was the perfect size to hold a coin. While Miuccia Prada was not the first to reimage the penny loafer, her take on the trend features a logo-engraved metallic ‘coin’ and has quickly become a best-seller for Miu Miu. She even reworked the loafers into a £2,400 leather shoulder bag for AW24 – shiny penny included.

But back to Miu Miu’s penny loafers which, at £850 a pair, are a huge investment. While Hailey Bieber makes a strong case for them paired with white socks, an oversized Saint Laurent trench coat, slouchy Bottega Veneta tote and Matrix-esque sunglasses, they’re a little out of budget for most of us.

So we did some digging and found three alternatives from the high street that look nearly identical. The biggest difference is that these price tags start from just £29.99…

The best penny loafers for AW24

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