This layered look was much more complex than I noticed on first glance. The peter pan collared white blouse, cropped pale denim jacket and coat with a huge shearling collar are set off by the total randomness of the slouchy striped bag. It's great to find cool twists on these fashion 'don'ts'.
Also, note the girl in the right hand corner - love this coat too! Looks like a similar silhouette to some Chanel sketches from the 1910s we saw in the Fashion Institute of Technology's archive yesterday. Oversized collar and slightly flared, A-line cut. Classic.