CFDA Awards 2012: The Olsens Win Big + What Everyone Wore

The fashion industry celebrated one of its biggest nights at the annual Council of Fashion Designers of America Fashion Awards, last night held at Lincoln Center in New York City. And there was no shortage of stars on hand to support their designer pals, including Dakota Fanning (in brocade Proenza Schouler), Lily Collins (in funnel-neck Marchesa), and Zoe Saldana (in Prabal Gurung). “I just wanted to be sexy and feel very womanly, and he wanted that, too,” the actress told InStyle.com of how she and Gurung collaboratively picked her look. “We don’t censor each other. We have so much mutual respect.” A newly-brunette Mary-Kate Olsen and sister Ashley walked away as the night’s biggest winners, when Jessica Chastain (in Prabal Gurung) presented the twins with the highly-coveted Womenswear Designer of the Year award for their label, The Row. "With the future of American fashion in such supremely talented hands, the next 50 years are going to be every bit as exciting as the last," Chastain said. What a compliment! Visit cfda.com to who else won awards, and see more photos in the gallery.