Fashion trends move quickly and can be difficult to follow...

That's why there are certain iconic styles that we simply love. If you're lucky enough to have one of these timeless pieces hanging in your closet, consider yourself very lucky—it'll never go out of style!

Even if your closet isn't all that luxe, it's still worth it to brush up on your knowledge of fashion history. Once you understand some of the classic shapes and styles that are out there, you'll find their influence popping up everywhere, including on the most budget-friendly racks.

1. Chanel Little Black Dress

Introduced by Coco Chanel in 1926, the original design was for a simple, sleeveless, black sheath dress, cut just above the knee—still a versatile and popular style today! Chanel's intention was that the dress be a sort of “new uniform,” which would fit and flatter all women, be appropriate for a variety of occasions, not show stains, and be comfortable to wear.

2. Hermès Silk Scarf

Pronounced “air-MEZ,” the house of Hermès introduced their line of silk scarves in 1937 and still rolls the edges by hand today. From the initial design work to the finished product, it can take up to 2 years to bring an Hermès scarf to market. Available in a range of sizes, the scarves can be fashioned as halter tops, sarong skirts, belts, head wraps, and—of course—simply tied around the neck (although there are countless variations on this, too).

3. Diane von Furstenberg Wrap Dress

In 1973, Diane von Furstenberg introduced what was was to become her signature piece—a  knitted jersey wrap dress. However, in the power-dressing era of the 1980s, the style fell out of favour, but DVF reintroduced it in 1997, largely in response to a younger generation of women who were scouring vintage shops to buy the 1970s originals. The classic frock is legendary for its versatility, both because it suits so many different occasions, and because it flatters women of various shapes and sizes.

4. Christian Louboutin Heels

With their lacquered cherry-red soles and sky-high stiletto heels, Christian Louboutin's shoe designs have been the stars of many women's footwear fantasies since he launched his line in the early 1990s. Whether done in clear vinyl or crystal studs, Louboutin heels may not be practical, but—of course—that was never really the point. His styles continually inspire women who want to express their wit and sex appeal from the bottom up.

5. Louis Vuitton Luggage

Louis Vuitton began his career in 1850s Paris as a “malletier”—a trunk-maker. The flat-top designs of his trunks were unique, and they became popular because of their stackability. Louis Vuitton luggage became associated with adventure and luxury, and was beloved by explorers and aristocrats alike. This popularity continues with celebrities today—Zac Efron recently shelled out $50,000 for a vintage LV steamer trunk as a gift to girlfriend Vanessa Hudgens,

6. Burberry Trench Coat

In 1914, Thomas Burberry was commissioned by the British military to design a coat that would keep their soldiers warm and dry, even in the worst conditions—and so the “trench” coat was born. Today, the classic trench remains a Burberry bestseller, and has even inspired a social media website (artofthetrench.com), where fans from around the world can post photos of their trench coat-inspired street fashions.

7. Yves Saint Laurent “Le Smoking” Tuxedo

Yves Saint Laurent debuted his alternative to the LBD in 1966—a slim-cut black tuxedo with a sexily androgynous edge. Catherine Deneuve and Lauren Bacall made it iconic, and it remains a favourite with celebrities like Gwyneth Paltrow and Angelina Jolie today. On the red carpet, “le smoking” is always sure to stand out in a sea of evening dresses.

8. Missoni Sweater

Famous for its brightly coloured and intensely patterned knitwear designs, the house of Missoni revolutionized weaving technology back in the 1960s, and has influenced bohemian fashion styles ever since. When Vogue Editor-in-Chief Diana Vreeland first viewed the line at the Grand Hotel in Rome in 1969, she proclaimed, “Look! Who said that only colours exist? There are also tones.”

9. Christian Dior Pencil Skirt

Christian Dior introduced the first-ever pencil skirt designs in his “New Look” collections of the 1950s, which liberated women from their drab wartime attire and encouraged them to embrace their femininity and curves once again. The style remains a wardrobe staple today, and can be equally appropriate for a lunch meeting or after-work cocktails.

10. Cartier Tank Watch

In an era when pocket watches still prevailed, and watch design was seen as having little importance in comparison to mechanical precision, Louis Cartier was the first to develop a wristwatch that didn’t just look like a bulky pocket watch strapped haphazardly to the wrist. His “Tank” design, introduced in 1919, had a rectangular face with clean, masculine lines, making it stand out from the ornate Art Nouveau designs that had dominated since the late-19th century. This classic has adorned many famous wrists—including first ladies ranging from Jackie Kennedy to Michelle Obama.