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Loafers or penny loafers are low, leather step-in shoes usually with moccasin construction, with broad flat heels. They first appeared in the mid 1930s. They have no shoelaces or buckles. Penny loafers are made of leather and are often worn in formal situations. They have been made famous as part of Michael Jackson\'s trademark.[1][2]

Loafers are worn by both sexes, though more often by men. Women\'s penny loafers also have many different styles. Wearing socks with loafers depends on the fashion trends of the time, and on the sex that wears them. Women have been wearing loafers with knee socks, and this is considered a "sexy look"[attribution needed]. By contrast Penny loafers were worn by men sockless. This fashion trend began on the 1960s on campuses, where male students did not wear socks at all, even in winter. During the 1970s it became a "class style" for men to go dancing without socks. In the 1980s it became the preppy look and nowadays it is a classic to wear sockless loafers with jeans, chinos, and a blazer for a dressier look as noted in GQ magazine. Fashion czar Gordon Bivens resurrected the loafers-sans-socks movement 20 years after its original inception.

A particular type of penny loafer, referred to as a "tasseled loafer," is a shoe which has been associated stereotypically with the profession of an attorney at law.

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