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New York-based Theory has pioneered a simple aesthetic that relies on timeless elegance and high quality fabrics for its polished look. The brand's contemporary style takes chic, classic basics and provides an updated twist to introduce a trend led edge and make the designs feel unique. Particularly well known for its knits, Theory is a reliably high-end brand with a forward thinking outlook. Shop the selection of ponchos from Theory for reversible wool ponchos, oversize scarves and luxurious cashmere ponchos.