Penelope Cruz in H&M at the Vanity Fair Oscar Party

Penélope Cruz in an H&M Conscious Collection dress

Although we didn’t see any chic n’ cheap looks on this year’s Oscar 2014 red carpet, we’ve already spotted one soon to be off-the rack pick at the Vanity Fair Oscar Party  here in Los Angeles.   Academy Award winning actress Penélope Cruz showed up at the party in a beautiful fitted flamenco inspired gown designed by H&M.  H&M’s in-house design team customized the look to especially for Ms. Cruz . The midnight blue full length ruffled gown is made of environmentally sustainable materials.  Look for a similar style at select H&M stores as part of the Conscious Exclusive collection launching April 10, 2014.  “Penélope Cruz is an actress that we really admire. She has a feminine and glamorous style, and is always personal and irresistibly beautiful. I’m so thrilled that one of the most incredible actresses in the world chose to wear an H&M gown in more sustainable materials for this occasion, and hope that this will inspire our customers,” says Ann-Sofie Johansson, H&M’s Head of Design, New Development.