A well-known name in raincoats, we hear (3)

I believe the answer is:

max

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'raincoats we hear' is the definition.
I can't judge whether this defines the answer.

'a well-known name' is the wordplay.
'a well-known' becomes 'm' (I can't justify this - if you can you should believe this answer much more).
'name' becomes 'ax'.
'm'+'ax'='MAX'

'in' is the link.

Can you help me to learn more?

(Another definition for max that I've seen is " The greatest".)

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