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You can never have too many shoes — that’s why functional shoe storage exists after all. From high-end running shoes to affordable cozy boots and retro sneakers, there are many styles to consider adding to your closet. One footwear trend we love, that’s been a wardrobe staple for some time, is the lace-up loafer.

Right now, Coach Outlet’s Banks Boot is on sale for 70% off, bringing the regular price of $278 down to just $83. While the shoe looks more like a loafer, the Banks Boot has an easy pull-on back strap making it function like a boot. Ideal for casual or dressy occasions, the versatile boot comes in black and dark saddle brown.

Banks Boot, $83 (was $278) at Coach Outlet

Courtesy of Coach Outlet

The best features of the Banks Boot is the versatile style and comfortable wear. The classy, comfortable shoe can work for multiple occasions, whether you want to dress up or dress down. One reviewer wrote, “The quality is exceptional, and they fit like a dream. These boots strike the perfect balance between style and comfort, making them versatile enough for both work and a night out.” Another said, “A very comfortable, stylish shoe. A great buy, lots of compliments on the shoe. Easy to wear with jeans or a suit.”

One shopper agreed with the sentiments and wrote, “This is a multi-functional shoe you can go from relaxed to business casual with ease. You can stand a long time in them and not experience foot fatigue. You will not regret getting this shoe.”

Related: Nordstrom Rack is selling $225 Hoka running shoes for $130 that shoppers say are ‘absolutely phenomenal’

Just as you would expect from Coach Outlet, the Banks Boot is made with exceptional quality and materials. The outside is covered in leather and the inside is lined with man-made leather, while the footbed is crafted from a sturdy rubber that provides traction. “The craftsmanship is impressive, providing excellent support, and we’ve received numerous compliments on them,” said one shopper.

As of now, most sizes are available in each color, but you won’t want to wait long. The fashionable and designed-to-last Banks Boot is being discounted from $278 to just $83, making it an incredible deal.