Guess Who Just Wore Zara on the Red Carpet

The CFDA Awards red carpet is in full swing, and it's rife with amazing style moments. While many celebrities opt for big-name designers like Proenza Schouler and Jason Wu, Olivia Palermo decided to go the more affordable route. She wore the Ruffled Off-the-Shoulder Dress ($148) from her collaboration with Banana Republic along with a Zara velvet clutch (that's sadly no longer in stock). Of course, Palermo makes affordable finds look super expensive—would you expect anything less from the style star?

Scroll down to see Olivia Palermo's full CFDA outfit and shop a similar Zara clutch.