06/06/2017 01:10 EDT

2017 CFDA Awards: The Best Looks From The Red Carpet

It's the Oscars of the fashion industry!

Over the years, the CFDA Awards have earned the nickname, "Oscars of the fashion industry," for its star-studded guest list and honouring of the industry's most iconic designers.

It was a big night for Raf Simons, who joined Calvin Klein as Chief Creative Officer in August 2016, winning Designer of the Year in both the womenswear and menswear categories.

The last designer to do that? Calvin Klein himself back in 1993.

Fashion crowds marvelled over Bella Hadid's new chopped 'do with its wispy bangs, and not only was it a total pleasure to see The Row designers, Mary-Kate and Ashley Olsen, on the red carpet, but 55-year-old Meg Ryan. Long time no see, Meg!

With Seth Meyers cracking the jokes as host, and Janelle Monae delivering a powerful political speech after taking home an honour for her contributions to January's Women's March, the fashionable night was a one for the books.

Check out some of the best dressed stars below!

Bella Hadid in Off-White

Meg Ryan in Christian Siriano

Janelle Monae in Christian Siriano

Nicole Kidman in Oscar de la Renta

Gabrielle Union in Rodarte

Gigi Hadid in The Row

Elsa Hosk in Philosophy di Lorenzo Serafini

Lupita Nyong’o in Jason Wu

Coco Rocha in Cynthia Rowley

Karen Elson, Pat McGrath, Adwoa Aboah, and Sarah Sophie Flicker