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We can always count on Derek Lam to deliver cozy outerwear, which is why we caught up with the designer to find out his ultimate dress-for-fall tip. “Get a great peacoat,” Lam told InStyle.com at last night’s 29th Annual Night of Stars Awards in New York City, where he took home one of the night’s three Star Honoree awards. “There’s nothing like a peacoat. It’s like a trench coat. Borrowed from the guys, it’s sexy—always—on a woman.” His collection boasts a few that we’re coveting, like this luxe cream double-breasted style, available for $2,250 at barneys.com.

Plus, shop our favorite budget-friendly pieces.

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