Yes, I believe that is a bearded woman. These excellent images are from one of German label howitzweissbach’s 2011 look books (Drei – Tatra). The collection hangs together well as a series of bold, geometric designs flirting with Bauhaus colours, while the bearded woman is an excellently perfect Movember inspiration (for both male and female tache growing). The rest of their site makes for fun perusing too – well curated and full of great visual references.