WOMENS SIZE MEDIUM - Rosemunde, Grey jersey pencil skirt (or bodycon-style tube skirt) made from a soft, lightweight, stretchy blend:
92% viscose (for drape and softness)
8% elastane (for stretch and recovery)
It has a ruched/draped effect down the front/side (created by the gathered fabric and drawstring tie at one side, which lets you adjust the ruching for more or less gathering). The drawstring with the black cord is visible in your hanging photo, and the ruching gives it that signature draped, flattering silhouette.
Key details from the tags:
Size M (labeled as M-165/88A, which is roughly European sizing — equivalent to something like US 6–8 / UK 10–12, depending on fit; the 14" flat waist measurement you noted suggests about a ~28" circumference when worn, so medium/smaller medium)
21" length (so knee or just above-knee depending on height)
Very soft, lightweight fabric