I followed the instructions & handwashed in cold water. It is currently drying flat but looks smaller for sure & no longer feels soft. It is rayon. It cost $87 with tax. I bought it from a boutique which I hate doing because returns always seem difficult in those places but she did tell me they don't shrink if you hand wash them. I feel like they will give me a hard time there because I bought the cheapest thing in the store & they probably can't understand why I am making a fuss about $87 when their coats are over $2,000. They sell Isabel Marant & other expensive clothing.