Everyone has heard of the little black dress. It’s been synonymous with classy trendsetters on the red carpet and is a staple in romantic comedy wardrobes. But recently, French fashion house – under the directive vision of Karl Lagerfeld and Carine Roitfeld – has introduced the little black jacket.

Much like the infamous little black dress, the little black jacket has already made it’s international debut and caused quite a stir in the fashion world; Chanel has even devoted an entire exhibit to the jacket in Taipei and an upcoming book in which 109 models and pop culture icons style the LBJ in a multitude of ways.

So what exactly is a little black jacket? Aside from the obvious namesake of being little, black and a jacket, Lagerfeld’s recent obsession stems from classic roots. The jacket is made of tweed – not unlike Chanel’s other classic jackets. The jacket was born in the 1920s by house founder Coco Chanel and was instantly a hit. The tailored, professional jacket has remained a popular trend and item throughout the decades, not changing very much at all: a true testament to the timeless style icon.

If, by now, you’re reading this and thinking, “Tweed is for old people; why would I ever wear the stuff? I’m in college,” I say it’s time to broaden your fashion perspective. Tweed – especially Chanel’s sleek and tailored little black jacket – can be worn by anyone at any age. You just have to be careful with the color palette. Mauve and pastels are sure to make you look beyond your years, but neutral colors like black, white or beige are appropriate for students. Additionally, any add-ons, like flowers or brooches, can tread into elderly territory quickly. However, if done with discretion, the LBJ can be dressed up or dressed down, depending on the occasion.

Take, for instance, a night at the movies. Loose-fitting boyfriend jeans can be paired with a distressed T-shirt and a little black jacket for a comfortable yet stylish look. Roll the jean cuffs up slightly and rock a pair of killer heels to complete the ensemble.

The little black jacket can also work with a more sophisticated look, as it is, after all, tweed. If you have an interview or important meeting, pair an airy blouse with a flowing A-line skirt of any color or print and top the outfit off with the LBJ and some chunky heels. Slick your hair into a ponytail or bun to frame your face, and grab a cute clutch. The little black jacket can be worn with virtually anything, as is easily seen in Lagerfeld’s book.

Now that I’ve explained Chanel’s little black jacket, there is one small problem. Most college students can definitely not afford a tweed jacket with a $1,000 minimum Chanel price tag. Fortunately, most department stores and popular retailers will certainly begin to make their own more affordable versions of the little black jacket that won’t shatter your adorable pocketbook. That being said, it’s possible to pick up more than one little black jacket that doesn’t necessarily have to be of the tweed variety. Mix and match with textures and cuts. You could easily have a little black leather jacket that adds an edgier twist to any outfit.

For more information on the latest trend rocking the fashion world, check out thelittleblackjacket.chanel.com to view photos from the exhibition or to get some inspiration.