The who's who of the fashion world were all out in NYC last night for the 7th Annual CFDA/Vogue Fashion Fund Awards. The event is always one of the hottest red carpet events of the year and this time around was no exception. From model Chanel Iman to actress Carey Mulligan, and from editor Anna Wintour to designer Zac Posen, it was without a doubt the best dressed room in the world last night.
For outsiders the night is just another chance to drool over designer duds, but for the award nominees it is about fame and fortune! For the first time ever the prize money was increased from $200,000 for the winner and $50,000 for the runners up to $300,000 (about £187,000) and $100,000 (£62,000) respectively. The unexpected extra cash was undoubtedly a welcome suprise for winner Billy Reid (he also won CFDA/GQbest new menswear designer earlier this year) and runners up jewellery designer Eddie Borgo and Nepalese-born ready-to-wear talent Prabal Gurung.
Check out the gallery below to see the best dressed stars at the awards including the Gossip Girl who wore a design by one of the winners.
7th Annual CFDA and Vogue Fashion Fund Awards
The actress looked very polished and rather grownup in a two-piece from the Chanel a/w 2010 couture collection.
7th Annual CFDA and Vogue Fashion Fund Awards
The Vogue editor looked understated and chic in a geometric frock and jacket and her signature bob - natch!
7th Annual CFDA and Vogue Fashion Fund Awards
The supermodel looked amazing as ever in an asymmetrical white frock accented by touches of oragne from finger tip to toe.
7th Annual CFDA and Vogue Fashion Fund Awards
The famously curvy star played down her famous figure in a demure blue gown.
7th Annual CFDA and Vogue Fashion Fund Awards
The Gossip Girl wore CFDA nominee Prabal Gurung paired with Roger Vivier shoes.
7th Annual CFDA and Vogue Fashion Fund Awards
One of the few people allowed to wear sunglasses at night if you ask us! The designer looked dapper as always when he arrived to give the keynote address.
7th Annual CFDA and Vogue Fashion Fund Awards
No surprises from Mary-Kate and Ashley. The twins stuck with their signature black fur and long gowns.
7th Annual CFDA and Vogue Fashion Fund Awards
The True Blood star looked sexy and chic in a multicoloured cocktail dress.
7th Annual CFDA and Vogue Fashion Fund Awards
Lively is never one to shy away from showing off her figure. For the CFDA's she focused on her famous pins in a short Chanel s/s ready-to-wear frock.
7th Annual CFDA and Vogue Fashion Fund Awards
The designer turned up with her daughter who also shared her name!