Cloaks are reserved for players who fight in Territory War, have high ranks in their clan, and those who fight against some of the major raid bosses of the game. The cloak rewards for these accomplishments are the Ancient Cloak, Knight's Cloak, and Holy Spirit cloak respectively.
Of course cloaks aren't the only new items being introduced. Players will also be enticed by brand new pieces of "Vesper Armor," the new S84 rank pieces of armor, as well as "Vesper Weapons." Vesper pieces can only be obtained through the new Seed of Destruction and Seed of Infinity raid bosses and can only be upgraded by revisiting those areas for Vesper Noble Enhance Stones, so expect to be seeing lots of the seed areas if you're interested in these armors and weapons.
Lastly, sigils have been added for caster classes looking for something to put into their shield slots. Finally, casters will be able to take advantage of that misused slot with items that can boost their powers further.
All in all, Gracia Final has offered many enticing items for players looking to engage with the new content that has come in this huge expansion. Certainly these items aren't the easiest things in the world to get, but then again, what epic items are?