I purchased it from J.C. Penny several years ago for probably around $40 and the material (which has a very faint dot pattern) also has enough stretch to fit me in the chest. The cut is very retro and reminicient of the 1950s. Here is a similar cut dress for sale online.
Various 1950's examples.
I'm a fan of the nipped in waist and the nice round neckline. In the right length this is the kind fo dress that suits almost any figure and almost any body shape.
I tend to pair mine with bold white or more refined cream, because I think that gives royal blue a more vintage look. One of the great things about this dress is that the color and cut allow it to go from night to day or from summer to winter with relative impunity. For a summer picnic kind of look I'd pair it with bright white.
White patent belt, thrifted, $5; white sailor gloves, thrifted, $5
White patent headband, Claire's, $5; white straw & velvet trimmed vintage hat, Bon Marche Thrift store $7.
White earrings, It's a Wrap, Burbank, $3; white bead bauble, gift
White patent clutch, Ross $15; thin poly scarf, gift
White patent flats, Crossroads Haight Street, $15; patent pumps J.C. Penny $25.
Another wonderful thing is that this dress, like the black with red trim, is that it works with both heels and flats. Walking between my hotel and the convention center in Melbourne I was certainly very glad of that! For evening or a more formal event I might do accessories like theses.
Cream gloves, thrifted $5; cream texture mock snakeskin belt, Target $15.
Velvet cap, vintage?, Buffalo Exchange Haight Street $15; cream flower headband Claire's $5
Fluffy caplet, fake fur, H&M $20
Vintage faux pearl and silver choker, inherited
Cream heels, Macy's $75; cream oxfords, Nordstrom's $50.
And here are cream accessories for a day to night slightly more casual autumnal look.
Cream jacket, Crossroads 9th & Irving SFl $20; vintage felt hat Bon Marche Thrift, $7
Via Spiga textured peep toes, $50 Nordstrom Rack; blue flats, thrifted $10
Blue stone earrings, PantheaCon $15
Of course if you want to make this dress modern you could do it with some black tights and big chunky boots. Or even just pairing blue with black gives you a slightly more urban street look. And while this cut might not be all over the runways the color certainly is.
Lastly, a brief moment of . . . How would Alexia do it?
Stone storm necklace at jcrew; 1867 via The Costume Institute of the Metropolitan Museum of Art