Meryl Streep skips out on wearing Chanel for Oscars

"Who are you wearing?" is the most commonly asked question on the red carpet at the Oscars, but Meryl Streep probably won't be saying, "Chanel" come Sunday's Academy Awards.

According to Women's Wear Daily, the Oscar winner had her eye on an embroidered gray gown for the event. Altered under the direction of Karl Lagerfeld, the Chanel dress was personalized for Streep.

Although Lagerfeld had already made a sketch for the dress, her rep called the house of Chanel to cease the order the Florence Foster Jenkins star opted out of the dress because she was not getting paid to wear it.

Lagerfeld recalls someone from Streep's side, saying, “’Don’t continue the dress. We found somebody who will pay us.’”

RELATED: MERYL STREEP SAYS LAGERFELD LIED

Chanel's policy does not extend to clients getting paid to wear the designer's dresses.

“After we gift her a dress that’s 100,000 euros [$105,000], we found later we had to pay [for her to wear it].” Chanel's creative designer said.

Lagerfeld emphasized, ”We give them dresses, we make the dresses, but we don’t pay.”

While the designer insisted Streep keep the dress because of the customized size,  Lagerfeld could not help but quip, “A genius actress, but cheapness also, no?”

When asked to comment on the designer's statement, Streep's camp told The Hollywood Reporter that “the statement is absolutely false, and that it is against her personal ethics to be paid to wear a gown on the red carpet.”

As for Streep, we will just have to wait until Sunday to see what she wears on the red carpet.

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