Oliva Palermo attends the Montblanc "Collection Princess Grace de Monaco" held at the Monte Carlo Opera in Monaco.
I think she may be wearing a short version of the Valentino dress that Keira Knightley wore this week to the Venice Film Festival - or something remarkably similar - and I'm sorry, but I still don't like it, even in the short version. There's something too princessy-prissy about it that makes Olivia look older than she is.
I love her feather bag though, she's carried this one before. Good to see she's a fan of fashion recycling!