Edo Era Daughter of a Townhouse 1920s
Naomi no Kimono Asobi has valiantly translated the caption to find that it translates as follows:
"Edo Age - Kyoto woman dressed in fine clothes, younger daughter of townhouse."
So, this is in fact a re-enactment of earlier dress of the merchant classes, probably for the Jidai Matsuri (Festival of the Ages).
"The Machiya of Kyoto are traditional Townhouses dating from the Edo period (1603–1867). Born out of the city’s growing merchant class, they functioned as both residences and workspaces. Deep and narrow, with a shop in the front and a variety of living spaces in the rear, they once lined Kyoto’s streets."