1. Rachel McAdams in Elie Saab

2. Carey Mulligan in Prada

3. Penelope Cruz in Donna Karan

4. Cameon Diaz in Oscar de la Renta

5. Sarah Jessica Parker in Chanel

6. Queen Latifah in Badgley Mischka

Red Carpet:

1. Rachel McAdams looked so lovely and ethereal in her Elie Saab gown last night.  It was made from a beautiful floral print that made us nostalgic for spring; it reminded me of a watercolor painting.   Rachel got high marks for the fit, fabric, its charm and her ability to wear it with incredible ease.

2. Carey Mulligan’s Prada dress was the perfect choice for the budding starlet.  It was young and avant garde while maintaining a sweetness.  The beading and embellishments could have gone tragically wrong, but she pulled it off beautifully.

3. Penelope Cruz got it right with this Donna Karan gown.  The rich color was perfect for her hair color and complexion.  I loved the asymmetrical pleating at the top.  Cruz has become one to watch on the red carpet, and last night was no exception.

4. Cameron Diaz rightly wore Oscar de la Renta to the Oscars and she glowed.  With Cameron, it was the whole package, the dress, hair and that winning smile. 

5. Sarah Jessica Parker can hardly do any wrong on the red carpet.  She looked stunning in Chanel Couture last night.  The gown reminded me of Audrey Hepburn look in “My Fair Lady,” that alone would have landed her on this list.  She embodies a certain grace that complements whatever she wears.

6. Okay, there are actually six picks on my best dressed list.  Queen Latifah makes the list because she was gorgeous in Badgley Mischka, and I could not let that go unacknowledged.  The fit of the gown was perfect, I loved the one shoulder and that the embellishment came across her body at just the right angle.  She looked beautiful and her posture says that she felt beeautiful as well.  That is the job of the right dress on the right star at the Oscars.

It was a tale of two collections on the runway at Badgley Mischka, the lady and the rock ‘n roller.  Badgley Mischka has built a reputation on designing beautiful red carpet gowns, and for Fall 2010 they did not disappoint.  The gowns were as lovely as ever, and we may see a few off the runway come Oscar time next month.  Though the gowns are buzzworthy, the real news was the debut of their new line, Mark & James.  It’s young, sexy and edgy all rolled up into one collection.  Think sequin leggings, thigh-high boots and black stretched leather pants.  It’s enough to cause the original Badgley Mischka lady to clutch her pearls, while secretly coveting the glazed laced pant.  Wonderful knits and wool were mixed in with the sequins and leather that could transition from day to evening seamlessly.

The design duo has taken their label to the next level with the creation of Mark & James; overnight, they have proven themselves to be in touch with the market, and needs of women.  Badgley Mischka has chosen to remain relevant in this new decade, and women all over the world are the beneficiaries. 

Their selection range from Diane Von Furstenberg, Proenza Schouler, Badgley Mischka, Giambattista Valli, to Herve Leger, and the rentals will cost between $50 to $200.  They are shipped to your home, and returned in a pre-paid envelope.  The dress is essentially yours for four nights, but don’t take that too literally because it could cost you.  Handle the merchandise with care because if you destroy it, congratulations, you’ve bought it. 

It sounds simple enough, if you don’t count the waitlist of 20,000 women who’ve already signed up for the service.  The concept is definitely recession friendly; Rent the Runway has the ability to capture the market of women who merely want to borrow instead of own. 

A Netflix Model for Haute Couture [NYT/Tech]