Dress turns into skirt

I already have this dress for a few months now, but as you can see in the picture it's really big. It's way too big for me, but I couldn't leave it. I just love the fabric and it only costed 2,7 euros. So I'd be stupid not to buy it.

I decided I'm going to make a skirt out of it. First I wanted to make the dress smaller, but my grandmother (she's my sewing help) told me that it would be really hard to keep the shape of the dress nice. So a skirt it will be. When I'm starting this project I don't know, I don't have that much time now because my exams start in about a month and I need to do a lot of studying. But it will be my skirt one day!

Here's a little detailshot of the fabric. I think it's just the perfect fabric for a nice skirt.