New York ? The trench coat is one of the season’s “must-have” items, marking a rare alignment between fashion stars and grounded shoppers.

And while it’s quite possible there’s already a trench coat in your closet, the newer versions have some quirky and stylish touches that keep them from being redundant: There are “trench” capelets, tweed-trim trenches, and blue, pink and green trenches.

At the top tier of fashion, Chanel offered long, short and knee-length coats on its spring 2004 runway that are fairly traditional double-breasted silhouettes but jazzed up with interesting trim such as pearl buttons. Designer Karl Lagerfeld called the trench “the ultimate symbol of chic” in his notes for the spring fashion show.

Patrick Robinson’s ice blue and lilac trenches for Perry Ellis’ spring collection have been so successful this season he’s done a gold version for fall.

And racks upon racks of brightly colored coats are filling precious floor space at retailers such as Ann Taylor Loft, Gap, Banana Republic and Talbots.

“Trench coats are public domain. No one can claim to be THE trench-coat designer,” says Jamie Davidson, co-founder of Normandy & Monroe.

The coat actually was part of wartime uniforms during World War I, so “it was born in the trenches,” according to Davidson.

Normandy & Monroe, which launched its women’s collection a year ago with trenches as the debut item and will feature Scalamandre-print coats in the fall, uses a fabric called ventile, an Egyptian cotton that is both waterproof and light. Royal Air Force pilots in England were the first to use the fabric during World War II, Davidson says.

Of course these coats are in cheerful colors and feature a signature chartreuse lining.

“I can’t remember a time that there’s been such a case made to buy a trench,” says Sally Singer, Vogue’s fashion news and features editor.

A recent issue of Vogue featured the Chanel trench, as well as a glazed linen version with velvet and lace trim from Louis Vuitton and a transparent lambskin coat from Dior by John Galliano on its “Fashion Bulletin” page.

Perry Ellis’ Robinson says transforming tried-and-true garments into modern styles is an exciting and worthwhile challenge. “I want to mix some different ideas in it and put the piece into a different part of your life, like putting the trench into evening or weekend wardrobes.”

“Chic women want to take great items brought back to life. The trench coat is a staple for a reason, we just want it updated,” he adds, which is done with luxurious fabrics, richer colors and an A-line shape

“The prevalence of the trench in spring going into fall has something to do with the ‘borrowed from the boys’ mood. It has come about because fashion has been so much about the lady lately,” says Singer. “The trench is less frivolous.”

She adds: “It’s the one item that can say ‘I’m pretty, I’m a lady but I can exist in a tougher urban world.”‘

Trendy trenches are available at very reasonable prices, and that’s the way to go if you’re more interested in looking au courant than buying an investment piece that will last through several years of April showers.

But, Singer says, if you find the perfect-fitting coat, make the investment.

“The trench is a basic, but it’s a peculiar basic. They need to be tried on, and you need to find the right shape for your body,” she adds.