The 2012 CFDA Awards, dubbed the Oscars of fashion, were held Monday in New York City's Lincoln Center, honoring the best in American fashion.

Some of the most well known names in the fashion, entertainment, music and sport worlds attended the Council of Fashion Designers of America Awards event.

Twins Mary Kate and Ashley Olsen were presented the "Womenswear Designer of the Year" honor by Jessica Chastain for The Row. Billy Reid received the award for "Menswear Designer of the Year" and Reed Krakoff took home the "Accesory Designer of the Year" award.

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

A digital broadcast of the CFDA Fashion Awards will be made for the first time Tuesday at noon on Style.com. (See Photos of the CFDA Awards 2012)

The awards ceremony opened with a 2-minute film that paid tribute to the 50th Anniversary of the CFDA.

Johnny Depp won the Fashion icon award.

"Saturday Night Live" cast member Seth Meyers made an impersonation of designer Marc Jacobs dressed in the same Comme des Garcons men's sheer lace dress and boxers that Jacobs wore at the Met gala.

Tommy Hilfiger received the Geoffrey Beene Lifetime Achievement Award from Anna Wintour for his consistent, creative influence in fashion.

A career retrospective film of Hilfiger was featured followed by a performance by the acapella group "The Princeton Footnotes."

See the Full List of Winners Below:

The winners and honorees of the 2012 CFDA Fashion Awards:

Womenswear Designer of the YearMary-Kate & Ashley Olsen for The Row

Menswear Designer of the Year Billy Reid

Accessory Designer of the YearReed Krakoff

Swarovski Award for WomenswearJoseph Altuzarra

Swarovski Award for MenswearPhillip Lim

Swarovski Award for Accessory DesignTabitha Simmons

Geoffrey Beene Lifetime Achievement AwardTommy Hilfiger

International AwardRei Kawakubo of Comme des Garcons

The Media Award, given in honor of Eugenia SheppardScott Schuman and Garance Dore

The Founder's Award, given in honor of CFDA Founder Eleanor LambertAndrew Rosen

Fashion Icon AwardJohnny Depp

Tags: Fashion