This is the Over Skirt from MIYAO.
It features a peplum-like design with an inner ruffle that functions as a petticoat.
Poi(ポィ)
Ans Dotsloevner
Pauline Dujancourt
Miyao(ミヤオ)
Naokitomizuka(ナオキトミヅカ)
JW Anderson
Roisin Pierce
COMME des GARÇONS
Yuumiaria(ユウミアリア)
Off-White
Jenny Fax
Nodress
Max Mara
Rhodolirion
The Garment
Fely Campo
Vivetta