Wall Street professionals are pairing sharp suits with sneakers as big banks loosen their dress codes.
Photographer: Andres Kudacki/BloombergCasual Dress Codes (Almost) Killed the Shoeshine Business
Looser dress codes mean even CEOs are ditching their loafers for more casual shoes.
Roman Shoe Repair of New York opened its Wall Street shop on one Friday morning at 7 a.m., like it has every weekday since 1998. Three hours later, it greeted its first client.
The centuries-old trade is struggling following a shift toward comfort at the office. Wall Street and other firms started loosening dress codes prior to the pandemic, but the trend accelerated after years of people working from home in their slippers and sweats. Even JPMorgan Chase & Co.’s Chief Executive Officer Jamie Dimon wears work sneakers (he likes a pair of black Common Projects) and casual attire had made its way to the US Senate. To adapt, some shoeshine shops are offering sneaker-cleaning services.