The heart behind this film is really really good.
A great approach to the "Over ten years" genre which has proven to be the most self-defining genre of the lot this year as it's not quite as easy to ignore or sweep under the rug.
Ultimately, I couldn't help feel that this film felt more like a commercial, like an extra long one you see at the previews for a movie- a Hallensteins logo appearing at the end would not have felt out of place, but hey, kudos to you for making what I would consider quite a clever and effective ad concept for a clothing store. Great motivation to go out and buy a jacket with the hope that it will become your magical lucky jacket.
As others have said, I would have liked a more clear indication of the difference in time era- everyone looked more or less contemporary.
I think this idea was a solid introduction to what could have been a bigger film, but then you would have fallen into the same story structure as "Cushy: A Pull Story", and the last thing I would have wanted would have been an overflow of ten year movies following inanimate objects.
Really well shot, really well edited, I look forward to seeing what you guys produce in the future.
As for your title, "The Jacket" makes sense, and knowing the genre means you can kind of guess where it's gonna go before you watch it.