Well, the dress has been found ... to be a fake!
The thief who took the gown says he took the dress from Lupita's room at The London after finding the door ajar.
[Image via WENN.]
That's a crock of red paint according to Valentino's longtime business partner!
Giancarlo Giammetti was more than happy to point out Valentino produced red sole shoes in 1969 and 1983. In other words, way before Louboutin established his business in 1992.
Think Yves Saint Laurent will use this in their ongoing legal battle? Because we do!
[Image via Flashpoint/WENN.]