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It has come to my attention that there are a lot of people out there in blogland are looking to turn their spare bedroom into a luxurious, oversized closet. While my best advice would be to call a professional designer, I can offer this do-it-yourself dressing room, featured in Domino a couple of years back, as inspiration for a budget, weekend project. I accidentally recycled this particular issue a long time ago, but was happy to discover photos of Olivia Chantecaille's room makeover on fellow closetphile So Haute's blog.
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Although the font is now too small for me to read, this is what I can remember from the article:
Step 1) Buy some basic garment racks. (These are by Elfa).
Step 2) Cover with inexpensive fabric and decorative accents using a glue gun (this is the part that is easier said than done).
Step 3) Combine low-budget furniture pieces (the ottoman and mirrored vanity are from JC Penney) with an more expensive looking decorative accessories, like the floor-length, gilded mirror.
Step 4) Add wall hooks for belts, bags and jewelry
Step 5) Hang clothes and enjoy!