Oscars Fashion Review 2012

The Oscars 2012: The Best and the Worst Red Carpet Looks  2012

Five-star Cruz Penelope Cruz chose Armani and radiated old-school glamour. The chiffon organza is like a bandage on the bodice then explodes into froufrou...

Hollywood's most important night of 2012. When it comes to movie and fashion industry is certainly The Oscars. On this evening we find out who are the best actors and actresses, who is the new style icon, who is No.1 designer of the 2012, which couture designs are the most desirable at the moment and so on.

Dianna Agron looking beautiful and botanical in a floral maxi dress

Dita Von Teese was another of the stars to work vintage Hollywood glamour

With her tan, Cameron Diaz can carry off this putty-coloured Gucci Premiere gown and looks as if she's out to have fun

This year there are some newly discovered stars such as Rooney Mara, and some fashion surprises: Maria Menounos, who looks better than ever in a mint green Grecian gown, Stacy Keibler in a gold Marchesa gown, Milla Jovovich in Elie Saab gown completed by a slick Edie Parker clutch and lots of diamonds. With so much competition on the red carpet an actress needs to stand out from the crowd. There were contrasting fortunes for academy award winners Meryl Streep and Octavia Spencer who stole the limelight for varying reasons.

Jennifer Lopez looked absolutely show-stopping in a plunging art-deco striped gown by her red carpet go-to designer, Zuhair Murad

Kate Hudson wasn’t taking any prisoners in this fringed vintage Versace gown

Hands down our favourite frock of the night, though, had to go to Ms Angelina Jolie in Atelier Versace.

Lily Collins chose to champion classic Hollywood glamour in a beige tulle dress

While a host of glamorous celebrities donned their Sunday best to walk the red carpet at tonight’s Oscars, others opted to watch the event at a viewing party. And the hottest ticket in town was to Sir Elton John’s bash, which he holds annually in a bid to raise money for his AIDS Foundation.  Katy Perry and Miley Cyrus led the famous faces at the star-studded event in Los Angeles.

Katy Perry looking demure in a Blue Sparkly Dress

Diane Kruger looked absolutely stunning in a slinky red dress that featured a sumptuous lace bustier panel

Emma Stone looked pretty as a present in her bow-necked Giambattista Valli dress in a gorgeous, deep red, plus Louis Vuitton jewels

Katy wore a shimmering silver and black sequined dress. The glittering gown, which had a sheer neck, was the perfect complement for the 27-year-old singer’s blue tresses. And while Katy Perry was less colourful than usual, Miley Cyrus also shone in silver as she ditched her boho style for a demure dress. Most of the women in attendance chose floor-skimming ensembles, but supermodel Heidi Klum decided to make a fashion statement in a very sexy mini dress.

Miley Cyrus was another star to channel the Hollywood of old, wearing this very sophisticated Roberto Cavalli fishtail gown.

Oscar nominee Michelle Williams looked typically fabulous when she arrived on the red carpet in a tiered, strapless red silk dress by Louis Vuitton and her trademark Mia Farrow-esque crop

Victoria and David Beckham weren’t going to let an event like the Oscars go past without making an appearance! Victoria wore a taupe column dress with a skinny black belt

Penelope Cruz wore a stunning Giorgio Armani gown with a fitted bodice, while Cameron Diaz looked fabulous in a nude Gucci gown matched with Tiffany & co. jewellery worth almost 1 million dollars! Angelina Jolie was in a black Atelier dress and no jewellery. Too simple for this gala event. Miss Lopez is no longer Jenny From The Block, and this Zuhair Murad backless gown proves it! She had Lorraine Schwartz jewellery, an elegant bun, smoky eye makeup, neutral nude lips and accentuated cheek bones. This woman can never go wrong!

Zoe Saldana never disappoints with a lack-lustre outfit, so we were not surprised to see the star pull off another pitch perfect dress. Complete with a high hemline, but a sheer, peek-a-boo panel and diamanté detailing, the star made the fashion desk swoon.

The Vampire Diaries Ian Somerhalder was dressed to thrill

Vanessa Hudgens was a golden girl on the red carpet at Elton John’s Oscar party in a column-style couture gown from Georges Chakra

all eyes were on Rooney Mara as she arrived at the 2012 Oscars. Wearing a structured cream gown with sheer panelling along the shoulders by her go-to designer, Givenchy Haute Couture by Riccardo Tisci, the Dragon Tattoo actress offset the dramatic gown with her signature blunt fringe to devastating effect

Tina Fey looked absolutely stunning in a simple strapless crepe black gown by Carolina Herrera and a high ballerina bun

Black Swan star Natalie Portman, right, rarely puts a foot wrong, but her polka-dot strapless gown — vintage Dior, circa 1954 — merely looks old and right

 Glenn Close, whose emerald Zac Posen jacket is well cut and flattering but the dress is too busy and full

NERD star Pharrell Williams looked his typically dapper self in a three-piece suit complete with velvet bow-tie

Olivia Wilde wore a less-is-more outfit that pulled no fashion punches

While most celebs seemed to take a conservative approach to the official Oscars red carpet, they completely turned it out in fun, exciting gowns for the after parties. Lovely shades of yellow, coral, reds, and pinks were happily floating around Hollywood into the wee hours last night. And those who are typically hit-and-miss-- Miley Cyrus comes to mind -- were fashion all-stars. Fashion expert Kelly Osbourne and Heidi Klum were stunning in yellow at the Elton John party. And Salma Hayek and Kate Hudson turned it up at the Vanity Fair party rocking in hot pink and red, respectively.