Red Carpet

Johns PkI/Splash News Online

Want to know what it’s like to go to a major award show? The model (and Hearst heiress) gives PEOPLE.com the inside scoop on getting ready for Fashion’s Oscars — and hanging with fellow guests Blake, Heidi and Justin! Click here to see all the stars at the CFDA Awards.

6am: Going to be a crazy day. Nice long bath, then straight over to an early morning photo shoot with Terry Richardson. They were incredible, fun, crazy pictures. I was wearing men’s clothes, lingerie, dressing up as animals. Such an eccentric shoot.

3pm: Grab some food on-set: Thai curry chicken, pasta and rice. I won’t be able to eat once I go to the CFDAs. I’m wearing white so I definitely don’t want to take the risk of spilling anything on the one-of-a-kind dress Marc Bouwer made for me!

5:20pm: Oops. We had so much fun at the photo shoot, and ran over. Now it’s pouring rain! Here I am looking for a cab, still wearing all the black eye makeup and hot pink lips; my hair is sticking straight out from all the products. I looked like a drowned rat.

5:45pm: Home! Thankfully my dress already got dropped off. Jump into the shower and rinse off faster than I ever have. Didn’t even bother with my hair. It was already soaked with rain. I wanted a sort of a 1920s, old Hollywood, Veronica Lake look. My makeup artist Jasen Kaplan and hairstylist Ricardo Rojas have to work on me like crazy — it’s such a miracle.

6:20pm: Marc Bouwer picks me up, and we head over to the CFDA Awards gala at Lincoln Center. I felt like a princess. My dress was actually sheer white, but I put a nude body suit under it. Thankfully you couldn’t see anything!

Click through for more details on Lydia’s star-studded night!
(more…)

Landov

Klum to Kors design: Snip, snip. Auf Wiedersehen hemlength. On Project Runway, Heidi Klum and Michael Kors decide the fate of young designers, who know they are either “in or you’re out.” But in real life, the good friends collaborated on a super-short shimmering maternity dress for Heidi, whose bump was on display at last night’s CFDA Fashion Awards at Alice Tully Hall in New York. Heidi’s input? “I shortened it a little bit, because I shorten everything,” she tells PEOPLE. “I’m a shortener.” Not that Kors was surprised. “I knew she’d shorten it,” says the designer. “I can look at clothes on a hanger and know exactly how it’s going to fit, who it is right for. I’ve been doing this for years. I’m only 26, so I can’t say how long I’ve known her, but I know what works for her, what she likes, and I knew she’d cut it off.” And for his part, Kors loves that Heidi isn’t afraid to bare a little while expecting. “It’s a different kind of maternity,” he says. “Everyone thinks, ‘Oh, when you’re pregnant you should hide in the background. But it’s really all about shimmer and glamour and showing skin and confidence.” And Klum is anything but shy about feeling sexy while expecting. “I feel fantastic,” says Klum of her pregnancy. “Are you looking at my boobs?” she jokes. “I’m already two cup sizes bigger than normal.” Tell us: What do you think of Heidi’s sexy maternity style? — Jeffrey Slonim

Pete Mariner/Retna; Fame; INF

Before heading to the Cannes Film Festival, Elizabeth Banks stopped in New York City to pick up her fabulous wardrobe from Zac Posen, who helped her pick out one stunning look after another. Throughout the week, Elizabeth has turned up on the Cannes red carpet modeling Zac’s metallic designs for evening and colorful frocks for daytime. We love how her bombshell curls complement the retro lines of Zac’s dresses — not to mention Banks’s fabulous curves! We can’t wait to see the rest of her Cannes wardrobe. Tell us: What do you think of Elizabeth Banks’s Zac Posen dresses? Which is your favorite?

Jamie McCarthy/WireImage

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.”

(more…)

Amanda Schwab/Startraks; Debra L. Rothenberg/Startraks; Demis Maryannakis/Splash News Online

Arias weren’t the only thing on the minds of Hollywood’s biggest fashionistas as they turned out yesterday to celebrate the 125th anniversary of the Metropolitan Opera, which was sponsored by Yves Saint Laurent. For stars like Mary-Kate Olsen, Claire Danes and Becki Newton, an evening at the opera was also an opportunity to pick fresh-off-the-runway creations from the legendary French design house, now helmed by Stefano Pilati. “I had the privilege of going over to YSL and trying on a bunch of different dresses,” Becki tells PEOPLE.com, “which is every girl’s dream — especially when preparing for the Opera. I saw green sparkles and I got excited.” And while her bird-cage heels by the design house might have looked treacherous, “these are incredibly comfortable.” Ginnifer Goodwin concurred about the comfort of her towering YSL shoes. “Actually I find that YSL’s high shoes are rather comfortable, because there is quite a bit of platform. But height can be important with proportion as with this dress,” she said. For Zoe Saldana, however, staying stylish isn’t without consequences. “Are the shoes tall? Yes, they are. They’re very tall — but I’m getting used to it,” she said, before adding, “It’s ruining my toes.” It all adds to the drama, which seems even more appropriate at the opera. –Reporting by Jeffrey Slonim

Gary Hershorn /Landov

Reese Witherspoon has thrilled us with her award show looks over the years, from her vintage Christian Dior to collect her Best Actress Oscar to her sexy yellow Nina Ricci at the Golden Globes the following year. And when the surprise presenter took to the stage at tonight’s Academy Awards, it was no exception. The star chose a daringly fashion-forward Rodarte gown with a billowing ombre skirt and an asymmetrical beaded bodice. We love that Reese is supporting a young American label — Rodarte is designed by two twentysomething sisters in California. Reese is one of our Best Dressed picks, but it is more avant-garde than most. So we want to know: What do you think of Reese’s edgy look? Vote in our poll below!

See all the Oscars coverage, including Best Dressed, by clicking here!

Donato Sardella/WireImage

Jennifer Lopez may not have made it to N.Y.C. Fashion Week but that didn’t stop her from celebrating fashion this week! The diva turned up at the Beverly Hills launch of famed stylist Andrea Lieberman’s A.L.C. line for Barneys New York. With the Oscars just days away, talk inevitably turned to this year’s Academy Awards red carpet. For her part, Lieberman is ambivalent about the impact the economy will have on the Oscar’s glamour. “It’s hard to predict what people will wear,” the tastemaker tells WWD, “but I think the mood right now is a little more effortless. I think people just don’t want to look like they’re trying too hard.” Lopez, however, was adamant that she thinks the Oscars should continue to shine. “I don’t think there’s anything wrong with playing dress up right now,” she tells WWD. “Who wouldn’t want to wear borrowed dresses and borrowed jewelry?” But she is aware of the dilemma many stars find themselves in. “I think you can get criticized if you’re wearing borrowed dresses now because it’s borrowed, and I think you can get criticized for if it’s not because you bought it during the current economy,” she says. “So I say, do what makes you happy and wear what you want, because the only thing that really matters,” she jokes, “is if your mother calls you up the next days and says, ‘What were you wearing?’”

Come back on Sunday night for all the breaking Oscar news and Best Dressed!