Although initially released by Hot Chocolate as a non-album single, the song later appeared on the 2009 reissue of Cicero Park.
In 1976, the band re-recorded the song for their Man to Man album. Boasting a fuller, heavier production than the 3:42 original, it runs for 4:25. Rather than the original single version, a 3:48 edit of the re-recording has appeared on all compilation albums issued both by the band and with various other artists.
"You Could've Been a Lady" has many similarities to "Why Don't You Quit" by American jazz musician Eddie Harris.[2]
The song had further success in North America when it was covered by Canadian rock band April Wine for their 1972 studio album, On Record. Released as the album's first single, it was their first hit, reaching number two on the RPM 100 in Canada and number 32 on the Billboard Hot 100 in the United States.[3][4]