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Marchesa's Georgina Chapman and Keren Craig—also newly minted InStyle contributors—really outdid themselves for their Spring 2011 presentation yesterday, showing off incredibly ornate Oriental-inspired gowns (standout: the blush laser cut sculpted gown, above right) featuring horsehair, tulle, feathers and lace. Jessica Szohr and Olivia Palermo oohed and aahed at the fairytale of dresses, modeling a couple of knockout looks themselves. Click through the gallery below for all the need-to-know news, trends we are loving now, plus our take on the hottest moments from New York Fashion Week!

—Joyann King, with reporting by Heather Viggiani