“Investment” is a word that’s bandied about rather indiscriminately in fashion circles – often to justify the sort of purchases that would make our accountants wince. However, if there’s any garment in our wardrobes that’s truly deserving of the label, it’s a coat. As the outermost layer of your outfit (and the piece that takes up the most real estate), your coat is not only what makes the first impression when you step out, but it also bears the tricky task of having to complement the majority of your clothing while simultaneously weathering all the elements. As such, conventional wisdom goes that if you spend a little more and choose wisely, it’s guaranteed to pay off in the long run.

Of course, any seasoned financier will tell you that the key to smart investing is diversifying your portfolio. Sure, it’s best to start off with the safe bets that never go out of style. But once those bases are covered and you’ve got your returns, then how about directing your funds into something high-risk, high-yield – say, a yellow feathered number from Balenciaga (with yield here being calculated in number of heads turned)? The point is: it’s worth curating a varied selection of picks to complement every mood and occasion. For a little inspiration, we’ve put together an edit of the season’s most covetable coats – plus tips on how best to style them.

In the past couple months, you may have noticed us waxing lyrical about the benefits of spending more time in nature, whether that be camping out in the wild or simply pottering around on an allotment. It’s only right, then, that we make sure you’re suitably and stylishly kitted out for such pursuits. This season, we’re fawning over Japanese label Norbit by Hiroshi Nozama, which remixes classic outdoorsy motifs to create functional, technical gear you’ll actually want to be seen in. For example, this ruggedly cool khaki piece is made from “salt-shrunk” nylon for a crinkled effect and features a wealth of stylish details that elevate it beyond your classic hiking jacket. For an extra layer of warmth as temperatures dip, try wearing yours with a cosy shearling gilet from Patagonia and Manastash’s tie-dye thermal jersey. Finally, a pair of ripstop cargo trousers from hip-hip favourite Billionaire Boys Club and a bandana-as-neck-tie will firm up your status as the world’s best-dressed outdoorsman.

Even we will admit that, when all is said and done, the primary purpose of one’s coat is to keep the cold out (one that leaves you shivering is an unequivocally poor investment, no matter how handsome it may look). Few styles are better suited to the job than a quilted puffer jacket – especially one that places a generous stuffing of down and feathers between you and the outside world. The good news is that there needn’t be a trade-off between staying warm and making a statement if you opt for a bold, punchy colour, such as this glossy green number from Moncler. Sticking to a head-to-toe monochrome palette here helps an ultra-casual outfit of hoodie and sweats feel pulled together while still offering plenty of visual appeal. Meanwhile, LOEWE’s crossbody bag and an eye-catching sneaker from New Balance make for suitably streetwise finishing touches.

Cult label The Row delivers an array of impeccably tailored coats that are famously crafted with the utmost attention to detail. Take the brand’s Rafael coat, which is spun in Italy from a blend of virgin wool and falls to just the right length. When sporting such a luxurious outer layer, what you’re wearing underneath almost doesn’t matter, but it certainly wouldn’t hurt to reaffirm your exquisite taste here. We suggest neutral, pared-back pieces that mirror the coat’s clean lines, such as a crisp white sneaker, a boxy SAINT LAURENT bag, and TOM FORD’s caramel-hued rollneck sweater.

The holiday season brings with it plenty of excuses to get decked out in one’s finery, and for many of us the urge to get dressed up has been multiplied tenfold this year. If you’re among those truly extroverted dressers for whom staying home in loungewear was akin to torture, then may we suggest a coat that’s guaranteed to grab the audience’s attention from the moment you make your entrance.

This season, Balenciaga is making the case for peacocking with a playful feathered jacket in a mood-lifting yellow. The secret to pulling it off with aplomb is striking the right balance with the rest of your outfit: the goal is more Mr David Bowie, less Big Bird. While the temptation might be to tone down the rest of your outfit, layering clashing patterns in similar hues exudes confidence (and confidence is crucial here) while still feeling coordinated. From there, try nodding to the rock-and-roll overtones with Dries Van Noten’s black tailored trousers and a pair of 1960s-style Chelsea boots.

The latest collection from Mr P. has duly arrived and it’s replete with the sort of endlessly wearable, high-quality pieces you’ll have come to expect from our in-house label. This beige funnel-neck jacket is a case in point: it’s made from 100 per cent lamb shearling and is thus built to last a lifetime. When it comes to styling it out, an off-white jeans-and-sweater combo might feel like an unorthodox choice for the season, but it creates a crisp contrast to the fluffy lining and makes for a welcome change from the moodier hues we all tend towards come winter. Better yet, a base palette of soft neutrals provides a blank canvas to go bold with your sneakers (we’re a fan of Nike’s Waffle 2s) and allows LOEWE’s sublime mohair scarf to shine.