Anne Hathaway

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Banks may now be tight with loans, but let’s just say that Cartier didn’t hold back for their 100th Anniversary Celebration in America at the Cartier mansion on 5th Avenue to benefit Service Nation, which encourages volunteerism. Anne Hathaway, Kate Hudson, Jessica Biel, Demi Moore, Eva Mendes, Justin Timberlake and Rachel Weisz may have looked like a million dollars at the Cartier Mansion on last night, but collectively they had on nearly three times that amount in borrowed Cartier gemstones — and that’s not counting the bling of Sir Elton John (also in the house). Just Hudson’s diamond and onyx panther necklace alone would have set her back $905,000, not to mention her $230,000 diamond cocktail ring and diamond studs. Timberlake was a diamond stud himself, wearing an onyx and emerald panther tie pin and onyx and diamond cufflinks. “I made a joke to my stylist tonight,” said Hathaway, herself bedecked in over $500,000 worth of Cartier jewelry. “That if I lost [a piece] tonight, technically, it wouldn’t be like losing it, because, after all, I would be at Cartier. And he said [emphatically] . . . ‘No!’” Mendes concurred. “I’m very upset that I have to give back this panther ring in the morning.” But no, she wasn’t afraid of losing the ring worth $220,000. “No, they’ve got insurance for that, Love. It’s never happened, because when things are not mine, I take even more care of them.”

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While Anne Hathaway has been gushing about Italian designer Valentino, rumors have been swirling that the actress might have something in the works with Marc Jacobs for his next set of ads. British Vogue claims that the Oscar nominated actress is looking to change her classic image, and Marc Jacobs is in search of his next muse. While we would love to see Anne follow in the footsteps of Victoria Beckham, it’s simply just not going to happen. A rep for Jacobs tells PEOPLE.com, “I’m afraid that is not true. Marc and Annie are good friends, but there are no plans of her appearing in our ads.” Tell us: Who do you think should be Marc Jacobs’s next muse?

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Italian designer Valentino has enjoyed decades as one of Hollywood’s favorite designers, and Thursday he became a permanent fixture in Beverly Hills with a coveted induction into the Rodeo Drive Walk of Style. The icon, who has dressed the likes of Jackie O, Cate Blanchett, and Gwyneth Paltrow, received the honor from yet another adoring fashionista, Anne Hathaway, who donned a pretty floral Valentino frock for the occasion. “He’s someone who really knows what it is to be alive, and I think that comes through in all of his creations,” Hathaway tells PEOPLE.com of the designer, whom she met on the set of The Devil Wears Prada three years ago. Before presenting the award, the actress recounted all the times she “tried to be perfect in Valentino for Valentino,” including her appearance in a bowed frock at the West Coast premiere of Valentino: The Last Emperor the night before. But her all-time favorite Valentino creation was worn by someone else. “The Julia Roberts Oscar dress is way up there for me. She’s a beautiful woman so to be able to say that she’s never looked so beautiful is a very, very big statement,” gushed the Academy Award nominee, who knows how hard it is to hit a fashion homerun on the big day. As for the designer, “I am completely drunk on compliments,” he said while accepting his plaque, which will reside alongside those of fellow honorees Gianna and Donatella Versace, Mario Testino, Manolo Blahnik, and Salvatore Ferragamo. Valentino added, “My mother always said I was walking in the clouds. Now you can say people are walking on me!” – By Jenny Sundel

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Anne Hathaway may have already made an appearance at the N.Y.C. premiere of Valentino: The Last Emperor, but last night she got a second look, joining stars like Gwyneth Paltrow, Joan Collins, Rachel Zoe and Nicky Hilton at the documentary’s West Coast premiere in L.A. For the man of honor, the question of letting filmmakers document his life was a tough but ultimately satisfying choice. “Of course it was difficult,” he told PEOPLE.com. “But finally it is so beautiful and so good that now I accept it and it is okay.” Hathaway, who entered the screening theatre through a side entrance hand-in-hand with boyfriend Adam Shulman, said that she wishes that the recently retired designer would step back into the world of fashion. “I’m going to beg him to come back,” she told PEOPLE.com. “I actually begged him to make me an Oscar dress, but that didn’t happen and I got to wear the most gorgeous Armani — but I think now that he has retired we all appreciate him that much more.” And the rest of the Hollywood seemed to agree, as the audience stood when the design legend entered the theatre, and then again at the end of the film.

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Designer Valentino might have earned fame for dressing Hollywood’s leading ladies, but with last night’s premiere of Valentino: The Last Emperor, the Italian designer became a film star in his own right. It was an appropriately star-studded occasion, with Gwyneth Paltrow, Claire Danes and Anne Hathaway among the elite crowd that turned out to the Gilt Groupe- and Quintessentially-sponsored premiere at MoMA. And the gorgeous crowd wasn’t lost on the designer. “Gwyneth looks fantastic tonight,” Valentino remarked to PEOPLE, “Anne sensational. Claire Danes . . . they’re all friends of mine.” But just because they dazzled in Valentino’s elegant gowns, didn’t mean that stars weren’t also keeping more prosaic issues in mind. Of her Grecian-inspired white gown, Anne Hathaway explained, “I’ve been enjoying a couple of post-Oscar burgers. So I didn’t fit into a lot of the vintage stuff. I wanted to wear something that was a little bit more forgiving.” For glam mom-to-two Paltrow, “It was hectic getting ready. We just flew in yesterday for this. And my kids are really jetlagged. And my son had a meltdown. But we got out the door,” although not without a struggle. “He was very upset by these hair clips they put in to keep your hair back when you’re getting your makeup done,” she explained. “He hated them. He was livid. But I’m here. I made it.” So did Moses have an opinion about the dress? “He did not like it,” said Paltrow. “He’s very specific. My daughter really liked it. She also chose my nail polish color.” Pink, of course! And how did the man of the night, Valentino, feel about her look? “I don’t know,” answered Paltrow. “I’m going to have to be scrutinized later.” Click here for a review of the film by PEOPLE’s critic.

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Don’t believe the rumors that celebrity stylist Rachel Zoe’s top clients Cameron Diaz and Debra Messing have dropped her. “The information is inaccurate,” Zoe’s representative Teal Cannaday tells PEOPLE exclusively. “Rachel is still very much working with Debra and Cameron” PEOPLE followed up with reps for both actresses who confirmed the ongoing relationship. And while sources have claimed that Zoe has been focusing more on her Bravo reality show, The Rachel Zoe Project, than her styling work recently, “that’s not true,” insists another source close to the stylist. Zoe continues to work with Jennifer Garner, Kate Hudson, and Anne Hathaway, whom she styled for this year’s Oscars. “Styling is still her number one priority,” says the source. “Despite anything else she does, she is a stylist first and foremost. She’s still holding people’s trains and sewing them into their dress. That’s her priority.”

– By Charlotte Triggs

This week on The Tonight Show with Jay Leno, Anne Hathaway explained her favorite new drink, which she discovered through Bride Wars costar Kate Hudson (watch the video!). Turns out the “Skinnygirl Margarita” is actually the invention of another celebrity — the Real Housewives of New York City’s Bethenny Frankel! Kate is a huge fan of the show’s and of Bethenny’s, in particular. While the drink is actually going to be sold in pre-bottled form in stores this summer, you can start making the low-cal drink (under 120 calories per serving) at home now.

Over ice, pour:
One shot (1.5 oz) clear tequila
4 limes (squeezed)
A tiny splash of Cointreau or triple sec
*if too strong, add a splash of soda