We've come to expect ultra-sleek basics and cool, artful takes on classic style from Theyskens' Theory — tonight, Olivier Theyskens did not disappoint with his Fall '12 collection. From gorgeously tailored jackets to sweaters that slouch in all the right places, to more refined ladylike, ethereal creations, it's a show filled with quite a few must-have items. Our full runway report is coming shortly, but click through now to see the Theyskens' Theory Fall '12 collection in its entirety.

Somewhere, Marlene Dietrich is smiling. Donna Karan's Fall 2012 collection gave menswear a seductive turn, somehow making the double-breasted suit look just as sexy as the fitted dresses. Whereas past collections felt as loose and languid as a yoga pose, this latest collection was all about sharp tailoring and even sharper edges. Blazers had pointed shoulders, tops had extra wide, stiff cuffs, and skirts and dresses were folded and gathered like the face of a Frank Gehry building. There was lots of structure, and it seemed that Karan is making a strong argument for the '90s power suit. Models were adorned with miniature fedoras — thank you, Stephen Jones — giving the show a slightly playful and sexy undertone, as if they were Vegas dancers playing businesswomen. That said, Donna Karan also paid tribute to Whitney Houston, and the show closed with the late singer's rendition of "I'm Every Woman." No one knows that better than Karan. Side note: the show opened with a preview of her Casual Luxe line, which could be summed up as tartan-loving biker chick. Those looks follow the collection photos.

• Trends: power suits, menswear, architectural details, sculptural.
• Colors: Red, black, gray, olive.
• Key Piece: The fitted menswear blazers, a sexy red cocktail dress.
• Accessories:The miniature hats were amazing.
• Who Would Wear It: Women who can pull off the menswear look — think Evan Rachel Wood.

Chris Benz described his retro collection “like a little kid watching your mom getting ready for a holiday party.” For Fall, the designer took a trip to the '50s and '60s with a festive array of sequins, lamé, and floral prints complete with throwback bouffants. Vibrant-hued trousers and cropped jackets were fresh and fun, while voluminous tulle skirts and metallic dresses provided a quirky twist to party dressing. More details below.

• Trends: Full skirts, cropped jackets, pleats.
• Colors: Citron, red, eggshell, black, gray, green.
• Key Piece: The floral pants and structured wool coat pairing was the prefect mix of vintage modern.
• Accessories: Red, green, and black pumps, leather gloves, statement jewelry, striped scarves.
• Who Would Wear It: Girls who crave fun party looks and a new twist on separates.

While New York Fashion Week has us fixated on the runways and the city's street-chic style set, across the pond in London, a different crew of fashion insiders and celebs were showing off their red-carpet looks at Elle's Style Awards. It was a chic gathering of attendees in a range of worthy style — we spotted the leggy Poppy Delevigne showing off one of Mary Katrantzou's Topshop designs, Alexa Chung styling up (maybe our favorite — ever) take on the menswear trend, and the gorgeous Rosie Huntington-Whiteley channeling ethereal glamour in Antonio Berardi. Click through to see who else stepped out for the fashionable fête.

Phillip Lim showed a bookish, workwear-inspired cool for Fall '12 — some of the models even carried briefcase-style clutches down the runway. The designer offered up tapered trousers, fitted blazers, and his signature slouchy yet structured knits, all playing into a pretty, polished glamour that's perfect for the office. The collection was a refreshing mix of youthfulness (bright pops of colors, sleek pointy-toe loafers, tiny slivers of skin showing) and an underlying note of sophistication (turtlenecks, contoured coats, high-waisted pants), bringing a sweet sartorial dichotomy to the art of Fall layering. Get the details below.

• Trends: Knit blanket coats, subtle geometric prints and colorblocking, perfectly tailored trousers.
• Colors: Black, white, red, bright blue, gray, taupe.
• Key Piece: The wool patchwork coat with turtleneck; the mohair cape with white trousers.
• Accessories: Leather belts, oversized fold-over clutches, metallic ankle booties and T-strap pumps.
• Who Would Wear It: Women who want to look on-trend but professional at the office.