If there's one Chanel item that's within every woman's budget, it's lipstick. And last night, the new Chanel Rouge Coco lip color collection launched with a celeb-studded event in New York City.

The lipstick is billed as "a modern interpretation of classic creme lip color," and "an homage to the rich life and legacy of Coco Chanel," who, by the way, introduced her first lipstick in 1924.

As the face of Rouge Coco, Vanessa Paradis was the guest of honor at The Mark Hotel, where she enjoyed a dinner with plenty of high-profile friends. Naturally, since Paradis managed to hook one of the world's most desirable men (that's Johnny Depp, mind you), I had to ask the Parisian actress and singer to explain that certain je ne sais quoi that French women are known for. Just what is it about them that differs from Americans?

"I dont know if I'm going to be able to explain it," Paradis said. "Yes, there is a difference, but I don't know what it is."

Perhaps, I suggested, Paradis could give us some tips for dressing sexier. After all, Valentine's Day is right around the corner...

"There's many ways [to dress sexy], but I feel something sexy is something that you could see the shape of your body. But that doesn't mean to wear, like, a tight dress. It could be also floaty, to see movement. You need to see the way your body moves," Paradis explained. "And red lipstick!" she added, flashing her own cherry-painted smile.

Next, I bumped into London socialite Poppy Delevingne, who (along with several other trend-setting young women) was named one of the worldwide living embodiments of the Chanel brand and spirit. "So are you a muse? How does that feel?" I asked. "We're technically ambassadors, and we kind of represent the brand. It's a huge privilege," said Delevingne.

What was the first Chanel item you ever owned? "I think it was my 21st birthday. I got a handbag from my grandmother and that's really when the obsession started," Delevingne recalled. As for her favorite item now, "I think my favorite is a little black jacket with shoulder pads and really intricate beading. I love to wear it with my boyfriend jeans."

And finally, on to the makeup. Delevingne has undoubtedly tried all the products, so I asked what one of her favorites was. "The Sublimage Fluid -- it's amazing during Fashion Week. It's got a sheen in it that makes you look very dewy, very fresh."

Speaking of dewy and fresh, actress Kate Bosworth looked stunning in a ballet-inspired look, complete with a high ballerina bun. I asked her the same question as Delevingne -- what was the first Chanel item she ever purchased? "I'm trying to remember what it was," Bosworth said, lost in thought. "Something in Paris...it was like a cuff thing," her companion recalled for her.

"You're right!" Bosworth exclaimed. "She knows me better than I know me. It was these cuffs...they're kind of the fun sort of costume-y thing," she explained.

Bosworth, who's currently busy producing one film and acting in another, is known for having two different color eyes. I asked if this makes choosing makeup colors difficult.

"I don't really think about it too much...I think it's more about the mood," she said. And what's Bosworth's take on the star products of the evening? "I love all the lipsticks, really. They do have the best red lipsticks."

As it came time for me and the perfectly polished Bosworth part ways, I asked her -- you're always so stylish, please tell me you sometimes just lounge around in sweats? Please?

"It's somewhat of a tragedy at home. It's sort of whatever's comfy," she revealed about her lounge wear. "That's what makes dressing up so fun!"

As I walked away, I heard the next editor ask Bosworth the same question I had about her first Chanel purchase. "She just asked me that!" Bosworth laughed, gesturing to me. You heard it here first!

After that, it was one last stop -- a minute with celebrity stylist Rachel Zoe, whose loyal hubby Roger waited patiently as Zoe mingled, even bringing her a glass of wine mid-interview.

I asked Zoe, is there any celeb you're dying to dress for the Oscars this year? Someone you'd really like to style? "No! No! I couldn't tell you, it's too early," Zoe said. As for her current clients, she's a bit more revealing. "I know Demi is presenting and I have a few other clients," she said. "You never know, sometimes you think its one [client], and then it's five all of a sudden!"

Of all the incredible fashion items living at the house of Zoe, what's the one thing the stylist would jump into a burning building to save? "My collection of Chanel," she said without hesitation. "Vintage Chanel and new Chanel."

And like Delevingne and Bosworth, Zoe also shared her first purchase from the brand. "It was a long kind of burnt sienna leather trench coat. I was probably 21. And I still have it and wear it -- that's the beauty of Chanel, it's worth every dollar."