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I agree entirely with Rich's analysis. I have tried Loake 1880s but found the plastic middle to the heel and the lack of comfort underfoot too much to bear. I had been spoilt by Church's shoes by this time in my life. A friend of mine says " If you've never had shoes costing more than £130 then you'll like Loakes but if you have had shoes costing £200 you won't be happy with Loakes.In my experience Loake's 1880 range meet the minimum requirements for a dress shoe. Their cheaper ranges have too much flimsy and/or synthetic (i.e., ugly and non-durable) materials, in particular nasty linings that don't breath, and cardboard-like soles - a false economy.
So, the moral of this is you may be very happy with Loakes and they certainly make some good looking shoes in the 1880 range but lets not pretend they're as good as shoes costing £250 plus - you do get what you pay for in the shoe world ( mostly!)