This little girl is looking at a shop window full of dolls. the doll that caught her eye seems to be looking right back at her. In the center front is a 22 inch 109 series Lenci doll in a plaid felt dress that first appeared in the Lenci catalog in 1927 as model 109/48 so this dates the photo to the mid to late 1920's to early 1930s
Actually there is another lenci doll in the picture - can you spot it? Is is only partly visible to the right of the picture, it appears to be a Lenci 300 series or a Grugnetto boy doll carrying a cane.