Bella, 25, attended the Anniversary Dinner last night in the midst of the 75th annual Cannes Film Festival in France.
The star went for a bold look, opting for an extremely plunging neckline that stopped at her waist.
To make the outfit work, Bella had to go braless, while she left her arms and legs covered up.
Bella’s waist was also exposed thanks to a couple of daring cut-outs above her hips.
The supermodel turned around to unveil the dress’ backless design, while a brown, leather-like material covered her rear and extended to wrap around her midriff.
Bella wore her hair in an elegant updo, though she allowed a few strands to fall over her right eye.
She opted for a bold, winged eyeliner make-up look and a nude lip.
The star accessorised with some rings and some sparkly diamond drop-down earrings.