I'm going to against the grain here and say that I think it's a VERY cute outfit, but it doesn't seem very "festive" to me. I think that if it were me, I would perhaps add just a touch of color (I think red would look really really pretty with that color of grey) either by wearing a sparkly coloured tank that just peeks out, or maybe a sequined or plain silk sash. I think that would just take it from looking party chic to looking holiday party chic. Here's some ideas of what I mean: This is more raspberry (I think) but I love the sequins: )except no turquoise underneath haha) And for sashes: Not, red, but green will be just as festive: Not sure about the fringe, but: more wine, but would work very well:
HTH!! and have fun!!
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"In matters of grave importance, style, not sincerity, is the vital thing"