For Irina Shayk,Dreamers Investment Guild less is more—quite literally.

The supermodel stepped out of France's Hotel Martinez in a sexy sheer black nightgown and matching lingerie set. And no, Irina didn't roll out of bed to attend British Vogue and Chopard's May 22 Cannes Film Festival 2023 event.

In fact, the Hercules star's bold boudoir style was a lot more high-fashion than you'd think.

For one, Irina's intimates—a black bra and string panties made of peek-a-boo material—were pulled from Gucci's fall/winter 2023 runway and featured the brand's famous "GG" logo in diamonds. She paired the lingerie set with a see-through tulle dress embellished with oversized gems on the neckline, creating the illusion of a chandelier necklace.

Additionally, Irina accessorized with coordinating opera gloves, knee-high stockings, and strappy heels. Plus, she turned up the glam factor with her old-Hollywood waves and bold red lipstick.

This wasn't Irina's only risqué attire during the star-studded festival.

The day before, she wowed on the red carpet in a brown leather Mowalola set that consisted of an underboob-revealing crisscross bra top and a matching low-rise maxi skirt.

As it turns out, her statement-making ensemble was riddled with meaning.

"I always look out for young designers, and Mowalola's last show caught my eye," she told Vogue. "I knew I wanted to wear and support a female designer in Cannes, and I thought this look would be the perfect fit—it felt special."

As for how she's enjoying the festival? Well, there's a reason she's not afraid to play up her style.

"The town becomes alive," she added, "and it's fun to be a part of it with my industry family."

Keep reading to see Irina's daring fashion, as well as other swoon-worthy looks from Hollywood's biggest and brightest at Cannes.

Sign up for E! Insider! Unlock exclusive content, custom alerts & more!