CFDA Awards 2012: Mary-Kate and Ashley Olsen Win Womenswear Designer(s) of the Year

Olsen Twins Seth Meyers CFDA Split - H 2012
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Olsen Twins Seth Meyers CFDA Split - H 2012

The twin moguls snag the U.S. fashion industry's top prize while host Seth Meyers dons a black lace Commes des Garcons dress over boxer shorts.

The 2012 Council of the Fashion Designers of America Awards was attended by every designer you can think of -- from Michael Kors and Prabal Gurung to Donna Karan and Marc Jacobs.

Also: lots of fashionable stars' stars also stepped out on the red carpet at New York City's Alice Tully Hall on Monday. Among the boldfaced names:  Mandy Moore, Candice Swanepoel, Jessica Chastain, Zoe Saldana, Kate Bosworth, Dakota Fanning and Doutzen Kroes, all dressed in designer fashion finery for the ceremony, which also marked the CFDA’s 50th anniversary.

Saturday Night Live's Seth Meyers hosted the fete and poked fierce fun at the crowd's expense. "Fashion and comedy go together like bar mitzvahs and John Galliano," he joked in his opening monologue, later joshing that Karl Lagerfeld is launching a new TV show called Are You Fatter Than A Fifth Grader?

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Meyers showed a picture of Jacobs' infamous Met Costume Institute Gala outfit --  a long sheer black lace Commes des Garcons dress over a pair of boxer briefs. Halfway through the awards, Meyers came out on stage dressed in that exact outfit, to the audience's enthusiastic applause. "My nipples have never been so freezing," he joked, dubbing his outfit "breezy."

But what about the awards? Chances are if you don't -- or even if you do --  follow fashion faithfully, you might be a bit surprised by the night’s big winner. Ready for an eyebrow raise?

Twin tycoons Mary Kate and Ashley Olsen won the fashion industry's top trophy -- Womenswear Designer of the Year – for their high end line, The Row, a luxury apparel brand named after London’s historic Savile Row. This means that the twins have successfully grown from child stars to authentic fashion designers. Recent past winners of this award include Proenza Schouler in 2011 and Jacobs in 2010.

The sisters naturally wore the latest designs from The Row’s Resort 2013 collection. Mary-Kate's hair was dyed dark brown, and she wore a long-sleeved black silk dress with a waist-sash and a high-low hem. She accessorized with Louis Vuitton black suede peep-toe heels and a black purse by The Row with a silver layered necklace by Sidney Garber.

Ashley wore a plum-hued silk V-neck dress, also from their resort collection, with a willowing ruffle down the middle, silver cuff bracelets Manolo Blahnik heels and a bag by The Row.

Other top winners: the Menswear Designer of the Year honoree was Billy Reid. The winning Accessory Designer of the year was Reed Krakoff.

The Swarovski Awards for Emerging Talents awards went to Joseph Altuzarra for Womenswear, Phillip Lim for Menswear and Tabitha Simmons for Accessory Design. The Geoffrey Beene Lifetime Achievement Award went, deservedly, to Tommy Hilfiger. And the International Award was given to iconic designer Rei Kawakubo of Commes des Garcons

Oh, and Johnny Depp accepted his Fashion Icon Award via an email. Really, Johnny? Really? Not even a video acceptance speech? That's just plain rude.