People in fashion talk a lot about investment pieces — that is, spending a little more on a high-quality item you know you’ll wear and love for years to come — and it’s for good reason. It’s much better for the environment to buy one great item and love it forever as opposed to a new thing every season. Plus, if you spend money on a piece that’s as high quality as it is versatile, you’ll rarely be met with the “what do I wear” conundrum.  

Knowing what exactly to invest in is where things can get a little more challenging. Does that pair of fabulous stilettos really count as a piece you’ll wear again and again? How often have you wished you owned a pair of leather pants? Do you really think a bright orange coat is the most versatile addition to your winter wardrobe? It’s these kinds of questions you have to ask yourself when shopping for investment pieces. Here, we tap InStyle Australia’s fashion editor, Annie Doig, to give us the lowdown on what exactly is worth the money, so you can start the new year off in style.  

The tailored trouser 

Everyone needs a well-cut pant in their year-round rotation. “You can wear them with jumpers and coats in winter, tanks and T-shirts in summer, and cardigans for every season in between,” says Doig. Just remember, don’t get too caught up in trending silhouettes. “When investing in a tailored trouser, go for the cut that suits your body and style best, whether it be wide-leg, straight cut or slouchy.”  

Pleated Tailored Pant, $950 from Kenzo, Ground Level 

The cashmere cardigan 

Never underestimate how versatile a cardigan is. “I love to wear a cardigan as a layer under a coat and scarf in winter, then tie it over my shoulders when it gets a little warmer for a touch of preppiness,” Doig explains. There’s no fibre more luxurious than cashmere, and because it’ll keep you ultra warm, it’s worth the investment.  

Round Neck Long Sleeved Cardigan, $595 from Hunter’s Cashmere Collection, Ground Level 

The crisp shirt 

Everyone knows a beautifully-cut button down is the backbone of a versatile wardrobe. “If I’m going for a more relaxed look, I’ll opt for more oversized, boxy shapes, but if I’m channelling ’90s minimalism, I’ll go for a more fitted shirt that I’ll wear with a baggier, relaxed bottom,” Doig says. 

Button Down Regular Fit Shirt, $199 from Boss, Ground Level 

The trench coat 

It’s a transseasonal staple for a good reason. A high quality trench will pay itself back in dividends, and also makes the perfect travel companion for in-between seasons. “I’mloving longer-line trench coats as opposed to shorter styles. They’re very chic to me!” 

Cotton Poplin Trench Coat, $1199 from Polo Ralph Lauren, Ground Floor 

The loafer  

They say shoes are one piece you should never skimp on, and we agree. “Loafers have been in style for decades for a reason,” Doig notes. “They’re durable and one of the most wearable shoes out there, and depending on what style you go for, can make an outfit feel preppy, sophisticated or old-school cool.” 

Egli Loafer, $1250 from Bally, Ground Level