Hollywood is obsessed with Reformation's Lacey dress

As the July 4th sales begin to heat up, we may have found the "It" dress of the summer.

It seems that celebrities from every walk of life -- from the runway to the big screen -- are obsessed with Reformation's Lacey Dress. The brand, which has become popular due to its dedication to sustainability and eco-friendly materials, has long been a Hollywood (and royal!) favorite, but this $250 frock has seen a surge of popularity like never before.

Kaia Gerber, Busy Philipps, Michelle Monaghan, Zoey Deutch and Lili Reinhart are just some of our favorite celebrities seen sporting the dress.

The midi dress features a sweetheart neckline and puff sleeves and comes in four different patterns. And despite its price tag, the lightweight frock makes for the perfect investment piece for summer. Shop all the chic styles below:

Related: More of our favorite pieces from reformation