Those loafers are definitely dried out and the nap is completely flattened, which is why they look so faded and grey. Suede is essentially leather that's been sanded down to create a soft, velvety texture called the nap. When suede gets exposed to dirt and general wear over a few years, those raised fibers get matted down and trap dust. That trapped dirt and flattened texture scatters the light differently, making the vibrant blue dye look dull and washed out. You can definitely revive the texture and pull out the dirt, but you've got to use products specifically made for suede. Regular leather conditioners are too heavy and will permanently turn that soft nap into a dark, greasy patch. I usually start by taking a suede brush and eraser to dry-brush the whole shoe. This pulls up a lot of the loose dirt and starts lifting those flattened fibers back up. If they still look dusty after a good dry brushing, put a gentle suede cleaner on a soft, dry cloth and wipe the entire surface down. Let them air dry completely without using any heat. Once they're totally dry, the most important step is taking that suede brush again and gently but vigorously fluffing the nap back up so it looks like velvet instead of smooth leather. Since the color loss might also be from actual UV fading and not just trapped dirt, cleaning and brushing will make them look way better but they might not go back to that original dark blue. You can get a spray suede dye on Amazon, check out a product like this one on amazon. I hope it works out for you! – Evan with Leather Honey
