The Row’s Mary Kate and Ashley Olsen with actress Lauren Hutton

The Council of Fashion Designers of America raised the roof at New York City’s Lincoln Center on Monday night as it paid tribute to America’s brightest talents. Hosted by Saturday Night Live’s Seth Meyers, the event awarded Mary Kate and Ashley Olsen of The Row with Womenswear Designer of the Year, Billy Reid with Menswear Designer of the Year, and Reed Krakoff with Accessory Designer of the Year. Both The Row and Billy Reid make their garments predominantly in the United States, while Reed Krakoff produces his wares in Italy with the occasional Stateside product.

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Billy Reid

Actress Lily Collins also presented Swarovski Awards, which recognizes emerging designers, to two Garment District stalwarts: Joseph Altuzarra for womenswear and Phillip Lim for menswear. New York-based Londoner Tabitha Simmons won the Swarovski Award for accessory design.

Tommy Hilfiger received the Geoffrey Beene Lifetime Achievement Award for his creative influence on fashion.

Also noteworthy? Tommy Hilfiger received the Geoffrey Beene Lifetime Achievement Award from Vogue editor-in-chief Anna Wintour for his creative influence on fashion.

“This year’s awards were particularly special,” Diane von Furstenberg, president of the CFDA, said. “We honored the best talent working in American fashion today and celebrated CFDA’s 50th Anniversary and the impact of our family of designers.”

+ 2012 Fashion Awards

+ Council of Fashion Designers of America