It’s fashion’s biggest night!

Every year, on the first Monday in May, stars gather in New York for the Metropolitan Museum of Art’s Costume Institute Gala, better known as the Met Gala.

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All of the biggest names in fashion and Hollywood rub shoulders for the black tie fundraising event; this year’s benefit honors Japanese designer Rei Kawakubo, who founded fashion house Comme de Garçon in 1973.

This year’s show is co-hosted by Vogue editor Anna Wintour, Katy Perry, Gisele Bündchen, Tom Brady, and Pharrell Williams, as well as honorary chairwomen (and guest of honor) Rei Kawakubo and Caroline Kennedy, former US ambassador to Japan.

Of course, it wouldn’t be fashion’s biggest night if we didn’t talk about, well, the fashion!

Check out what all your favorite stars ar wearing in the gallery below!