A reader recently wrote me looking for an alternative to this Alice + Olivia chevron print dress, which retails for $368 at Shopbop.
Although it's grey and white instead of navy, this Summer at the Hamptons dress from Lulu's will give you a very similar look on a budget. It retails for a much lower $55 and you can click here if you're interested in purchasing.
*Update - 5/28/10* - Forever 21 now has a black and peach version of this dress which retails for $29.80. You can click here if you're interested in purchasing.