Olivia Palermo, after Antonio Berardi, London, September 2012.
Even though Olivia is a celebrity, I think this look is wearable "in real life" (not sure how else to put it!): a leather skirt (choose a shape that flatters your body shape), simple sweater, white ankle-strap pumps (maybe leave off the ankle strap if your ankles are more cankle than ankle), a neat clutch and finished off with a belt folded over to look like a bow.
Recreate Olivia's look (kind of):
Reiss Barrett Olive midi leather skirt (I think this is the same one Olivia has on), Burberry London pleated leather skirt, Yves Saint Laurent caramel A-line skirt, Yigal Azrouel Lamb leather skirt, 3.1 Phillip Lim textured leather skirt or ASOS oxblood red pencil skirt
Nicholas Amore white cap toe pumps, ASOS Perry pointed heels with toe caps, or 3.1 Phillip Lim Ava d'Orsay pumps (if you are a bit wary of an all-white pump, these are a great alternative. The cut and two-tone makes them a little less confronting for the white shoe novice ;)
Reiss Andrea blush v-neck sweater, Chloe angora sweater,  Joie Claudire cashmere sweater, or Banjo & Matilda Ulitmate Vee cashmere sweater