By Lara Walsh
Updated Jan 22, 2018 @ 9:30 am

Gwyneth Paltrow is making her engagement to fiancé, Brad Falchuk, red carpet official.

While the Goop entrepreneur debuted her new ring on her website last week, the star gave us a second look at the stunning diamond sparkler while supporting her producer beau at the Producers Guild Awards on Saturday. Clad in a statuesque crimson Alex Perry gown with cape sleeves, the Shakespeare In Love actress displayed the dark stone IRL, which off-set her bright cherry manicure.

Credit: Frazer Harrison/Getty

The mom of two's all-red ensemble allowed her sapphire-hued ring to take center stage, as it was the only accessory in sight while presenting American Horror Story creator Ryan Murphy with the Norman Lear Achievement Award in Television at the annual event.

Credit: Frazer Harrison/Getty

On the cover of Goop Magazine’s newly-released Love & Sex issue, the businesswoman—who “consciously uncoupled” with ex Chris Martin in 2014—opened up about finding love again with Falchuk.

“I have decided to give [marriage] a go again, not only because I believe I have found the man I was meant to be with, but because I have accepted the soul-stretching, pattern-breaking opportunities that (terrifyingly) are made possible by intimacy,” she wrote in the feature. “Personally, at midlife, I have tried to accept how complex romantic love can be."

Congrats again, Gwynnie!