My own opinion of the term "modern classic" is that it refers to an updated version of something that is considered a "classic", when "classic" is used to denote an archetype of a genre or class. For example, the term "trench coat" seems to have originated when offiicers wore their Aquascutum and Burberry raincoats into the battlefield in the trenches of WWI. These coats, along with the waterproofed coats designed by Charles Macintosh, became archetypes--or original models--for the hundreds and thousands of variations that have evolved over the past century.
In most cases, the actual, original version of a "classic" would probably not be very wearable today, so in that sense every archetype could be considered "dated". But that is probably not the sense in which fashion uses the term "dated". To me, "dated" in the fashion sense is a much more loaded term; I mean, who would describe their style as "dated classic"? I think a better alternative to a "modern classic" style might be a "vintage/retro classic" style? So someone with a "modern classic" style is deliberately choosing to
dress in a way that reflects a modern take on these archetypes while someone interested in a "vintage/retro classic" style might choose to wear classics that are more closely related to the original archetype. But neither of my theoretical fashionable ladies would probably be caught dead in the heavy, moth-eaten original "trench" coats!
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