Katie Holmes and Tom Cruise on the red carpet at the National Movie Awards 2010 in London. Photo: Getty Images

At the National Movie Awards 2010 in London on Wednesday, Katie Holmes proved she has earned her stripes as a fashion designer, wearing a dress from her own collection to the A-list event.

In a bold move, Holmes, accompanied by her dapper hubby Tom Cruise, broke from tradition by staying away from solid colors and opting instead for a daring chevron-striped maxi dress from her Holmes & Yang label.

Holmes & Yang is a collaboration between the actress and her stylist, Jeanne Yang, who bonded over a pair of cream linen Stella McCartney pants during a 2005 photo shoot. "We talked a lot about clothes and how it's really unfair that guys get to have a uniform!" Yang told Vogue last fall, when the duo released their chic collection of blouses, skirts, jumpsuits, trousers, and dresses.

The fashion-loving friends and fellow moms actually began designing one year earlier, creating a polka-dot dress that Holmes's daughter Suri wore in NYC and a blue satin number that Holmes debuted at Cruise's "Tropic Thunder" premiere. For the retail line, it was important to the designers that their women's and children's collections be both fashionable and functional.

Holmes stocked the kids' line with pretty dresses that "can be worn in the yard, but if we have to scoop the girls up and take them to dinner, they'd still look appropriate." And when conceiving the women's collection, she kept motherhood in mind. "As a mom, you literally don't have time to think about what you're wearing," she told Vogue. "But you still want to look cool."

Of course, cool will cost you. A suede biker jacket from the Holmes & Yang sophomore collection -- which dance enthusiast Holmes told WWD was inspired by the cream, black, and pale pink colors of ballet -- retails for $3,688. And a crepe de chine confection for your little girl will set you back at least $500.

The Holmes & Yang collection, which is produced by New York seamstresses and artisans, is currently only available at Maxfield in L.A. "We're taking it slow," Holmes explained. "We really want to learn the business." Still, this is only the beginning for the budding designers, who are constantly brainstorming about their next classic creation.

Said Holmes, "We're inspired by our friends. who are real women, they have real bodies."

Considering that Holmes's best pals include Victoria Beckham and Jennifer Lopez, StyleList is going to start hitting the gym.

In related news, find out which celebrities recently wore Victoria Beckham's fashion line.