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Swap Out the Buttons
In place of the standard plastic buttons, sew on worn leather or antique-looking gold ones. (On a trench or any double-breasted coat, they're the main thing people notice anyway.)
Add a Girly Belt
It'll turn a flouncy coat into more of a fit-and-flare, Oscar de la Renta-like sort of thing.
Pin on Some Brooches
The bigger the brooch, the better. They'll look especially kitschy and Marni-like on a colored coat.
Toss on a Collar
Then tell everyone you bought your cape at A.P.C.
Layer a Vest on Top of the Coat

It sneakily camouflages most of your cheap coat, of course. But it's also what most of the Helmut Lang-wearing cool kids are doing these days.