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.]
Maybe we should stop trying to make Katie Holmes into a fashionista, because it's just not going to happen, at least anytime soon.
The 33-year-old actress was spotted out and about on the streets of Manhattan on Saturday looking less than great in a green leather Alexander McQueen fit-and-flare dress.
She paired the eye-catching number with black tights, black Manolo Blahnik pumps, and a white blazer.
The deep emerald green of the dress and bright white of the blazer just did not work together at all.
And the flared, pleated skirt was way too twee.
But at least she's wearing next year's color! We'll give her that.
[Image via Rex Features/AP Images.]