Also known as The Costume Institute Benefit, the party will celebrate the opening of "Karl Lagerfeld: A Line of Beauty," which "will explore the German designer's stylistic vocabulary as it was expressed in through lines — aesthetic themes that appear time and again — in his fashions from the 1950s to his final collection in 2019 and spotlight his unique working methodology," according to the museum.
Here are the details on the event — from who is hosting, to who is attending and more — that you need to know.
How can I watch the red carpet?
Vogue will stream the red carpet on their site, YouTube and social media channels. The hosts on the red carpet include La La Anthony, Saturday Night Live star Chloe Fineman, Derek Blasberg and influencer Emma Chamberlain.
Who are the chairs?
Michaela Coel, Penelope Cruz, Roger Federer, Dua Lipa, and Anna Wintour are the co-chairs of the gala.
What is the theme?
The event this year will pay tribute to the late Karl Lagerfeld, Chanel's legendary creative director. The dress code is "in honor of Karl."
Who will attend?
In addition to Coel, Cruz, Federer, Dua Lipa and Wintour, actress Florence Pugh has confirmed her attendence and Kim Kardashian has teased hers. Expect many other A-list celebrities and influencers to make their mark on the red carpet.