I love everything about this outfit except one thing.........gads I do not like the color gray at all........dull/boring/dead/lifeless color if ever there was one this is it. Any other color would be so much better.....this is autumn here, the colors of autumn are glorious and bright and filled with life......not this at all.
Grey can often look dull and boring but this outfit looks great on Letizia. Its very elegant and timeless and wonderful design. So I don't mind its color one bit. In a way grey adds a subtle elegance to this ensemble, loved pop of lilac around the collar.
And I think DMR412 is right and this coat is reversible. At least the seams seems to indicate that it can be worn purple/lilac side outside.
Very much agree with you on the cardigan vs a jacket.....casual business attire is not the best thing for a royal lady when working with the public in a palace. She does have cute red jackets doesn't she?