mary kate ashley olsen diane von furstenberg dvf cfda awards nominations 2011

Host Diane von Furstenberg poses with Award winners Mary-Kate and Ashley Olsen. Photo: Patrick McMullan

The Oscars of fashion are almost upon us!

Fashion's elite brought their stylish selves to Diane von Furstenberg's headquarters in New York's Meatpacking District tonight to hear the Council of Fashion Designers of America (CFDA) president reveal the nominees for the industry group's prestigious annual awards.

Before any names were revealed, the designer addressed the crisis in Japan explaining that she and CFDA Board of Directors are reaching out to designers and friends of designers to put packages together for an online auction to raise money. You can always count on DVF to show that fashion does have heart.

But onto the nominees!

Marc Jacobs
was bestowed with the biggie this year-the Geoffrey Beene Lifetime Achievement Award. When announcing his big win, Diane von Furstenberg told the audience, "Marc called me up and said this is only a half lifetime achievement award because I'm only halfway there." Good point!

We'll have to wait until June 6th for the winners, so for now you can satiate your appetite with this year's nominees (drumroll, please):

Womenswear Designer of the Year:
Alexander Wang
Jack McCollough & Lazaro Hernandez for Proenza Schouler
Marc Jacobs.

Menswear Designer of the Year
Michael Bastian
Patrik Ervell
Simon Spurr

Accessory Designer of the Year:
Alexander Wang
Jack McCollough & Lazaro Hernandez for Proenza Schouler
Reed Krakoff

Swarovski Award for Womenswear:
Joseph Altuzarra
Ashley Olsen & Mary-Kate Olsen
Prabal Gurung

Swarovski Award for Menswear
Alexander Wang
Phillip Lim
Robert Geller

Swarovski Award for Accessory Design
Alejandro Ingelmo
Eddie Borgo
Jason Wu
Pamela Love

Internaional Award:
Phoebe Philo for Celine

Geoffrey Bean Lifetime Achievement Award:
Marc Jacobs

Eugenia Sheppard Award:
Hilary Alexander of The Telegraph

Eleanor Lambert Award:
Hal Rubenstein of In Style

Fashion Icon Award:
Lady Gaga

Special Tribute:
Arthur Elgort