Elena Perminova, before Loewe, Paris, September 2016.
More images of Elena in this gorgeous outfit here. 
Recreate Elena's look (kind of):
Cutout sweater — Isabel Marant Ilia cutout sweater, T by Alexander Wang cutout striped sweater, Topshop Unique cutout cable-knit sweater,  LNA cutout sweater, ASOS Chunky sweater with cutouts, Versus Versace cropped cutout sweater, Isabel Marant Gane cropped sweater, or Isabel Marant Ilia cutout sweater
Zip-front leather skirt — Frame Moto skirt, Iro Tia leather skirt, New Look Petite Zip through a-line skirt, Saint Laurent Fringed leather mini skirt, or Oak Moto skirt