2010 CFDA Awards

Last night styled stars and fashion's elite gathered to honor the year's best designers at the seventh annual CFDA/Vogue Fashion Fund Awards. Billy Reid took home top honors, while Prabal Gurung and Eddie Borgo finished as finalists. Among the star-studded tribute, Carey Mulligan took the stage in sparkles, Anna Wintour was caught chatting with Prabal and Karl Lagerfeld, Gossip Girl's Leighton Meester and Blake Lively each made a stunning red carpet entrance, and Mary-Kate and Ashley Olsen coordinated in full-length fur. Inside, it's a world of fashion and designer favorites not to be missed — click on to see who stepped out for one of the biggest style nights of the year!

It's going to be the most talked about event: Swarovski and Gilt Groupe have joined fashion forces to host the sale of the CFDA Swarovski Award collection. The sale hits Gilt tomorrow at noon EST and will carry one-of-a-kind Swarovski-encrusted creations by contenders — such as Joseph Altuzarra, Alexander Wang, and Jason Wu — for the Swarovski Awards. "To inspire the design process, each nominee was provided with an all access pass to the Swarovski Creative Service Center," said Nadja Swarovski of Swarovski. "But at the end of the day it was all about the work of the designer — we are just the sparkling ingredient to enhance and push the boundaries of their creativity." That said, we can't stop ogling Wang's pimped-out Rocco duffel bag. Check out the rest of the designs.

The CFDA Awards is one of my favorite fashion events. Not only do classic and new designers receive awards, but it also brings fashion folk together and honors fashion as a whole. We showed you some fashion-focused arrivals last night before the event, but there were so many other stylish attendees. Actresses, editors, and models showed their support . . . and fun Polaroids captured some epic shots. Flip through to admire your favorite models and their designer pals from last night.

After yesterday's CFDA Awards was the afterparty atop the Meatpacking District's Standard Hotel. Many A-listers like Gwyneth Paltrow and Sarah Jessica Parker called it a night after the main event, but other revelers continued their good times. Irina Lazareanu was one of the first to bound in with friends like Carmen Kass. Jason Wu and Alexander Wang, meanwhile, held court at the bar. Alexander passed out kisses to celebrate his Swarovski award for accessory design, but he grabbed one special friend to steal a moment of rest admiring the space's impressive city views.

Elsewhere, Jamie Bochert made the rounds with her fiance Michael Pitt, J. Crew's Jenna Lyons posed for umpteen photos, and Alexis Bledel cozied up to Dree Hemingway. Many more models and designers mingled around the room including Donna Karan, Christopher Bailey, Liya Kibede, and Rag & Bone's David Neville.

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