Not many things that are fashion related originate from our continent, but a varsity (or “letterman”) jacket is a true American original. Its roots dating back to 1865 at Harvard University, when the school’s baseball team began embroidering an old English style “H” to their shirts and sweaters. The trend  eventually spread to other schools and evolved into the varsity jacket that we know today: boiled wool with leather sleeves. 
However, these days the varsity jacket has also become very sophisticated and streamlined. The really great ones eschew the traditional letter logos, and opted for a more minimalist design. This ‘sorority’ jacket by Roots is the best I’ve seen so far (although Rag & Bone has a nice one too). 
$358 at Roots.
PS. Check out Flare‘s fashion director, Liz Cabral, in her Roots varsity jacket paired with a sequin Arthur Mendonca dress — flawless.