As newly minted princess Kate Middleton greeted Michelle Obama in the ornate surroundings of Buckingham Palace Tuesday, it was hard to believe she was wearing a $340 dress from British retailer Reiss — a frock any commoner could buy. (snip) While Michelle Obama has also been applauded for wearing clothes from affordable stores such as J.Crew and H&M, she also favors big-name designers such as Jason Wu and Isabel Toledo. The floral Barbara Tfank dress she wore to meet Middleton this week cost at least $2,000.