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The first Monday in December only means one thing for fashion fanatics: it's time for this year's Fashion Awards, AKA, Britain's answer to the Met Gala.

The annual event organised by the British Fashion Council, is the largest fundraiser for its BFC Education Foundation - a charity which focuses on excellence in the fashion industry.

Gwenyth Paltrow - an A-lister whose style agenda has had a monumental impact on fashion agendas this year - gave a masterclass in vintage dressing at the 2023 event at the Royal Albert Hall and we literally can't get enough.

MORE: Lady Amelia & Eliza Spencer ooze ice queen glamour at the Fashion Awards 2023 

 READ: The best dressed guests at the 2023 Fashion Awards

LONDON, ENGLAND - DECEMBER 04: Gwyneth Paltrow attends The Fashion Awards 2023 presented by Pandora at the Royal Albert Hall on December 04, 2023 in London, England. (Photo by Dominic Lipinski/Getty Images)© Dominic Lipinski
Gwyneth Paltrow attends The Fashion Awards 2023

The Shakespeare In Love actress made the case for red on the red carpet in a plunge-neck draping gown in a fiery crimson hue from Valentino's 1965 winter collection, featuring an elegant gathered design which complimented the floaty silhouette to create an ethereal yet alluring look. 

The pièce de résistance was a stunning matching, textured floor-length jacket adorned with feathers which oozed sophisticated glamour.

Amping up the elegance, she finished off with jewellery from Van Cleef & Arpels' prestigious Heritage collection, which was also created in the 1960s. She wore the dazzling 'Clochettes' diamond cluster earrings from 1965, crafted with yellow gold, rose gold, white gold, and diamonds; the Marlene bracelet - an 18K rose gold bangle with 185 round rubies and diamonds; and the Aubépines bracelet from 1968 - a Yellow gold, platinum, rose gold and diamond piece.

MORE: Alexa Chung stuns in a bizarre metallic disc dress at the Fashion Awards 2023 

LONDON, ENGLAND - DECEMBER 04: Gwyneth Paltrow attends The Fashion Awards 2023 presented by Pandora at The Royal Albert Hall on December 4, 2023 in London, England. (Photo by Dave Benett/Getty Images)© Dave Benett
Gwyneth Paltrow wearing vintage Valentino and Van Cleef and Arpels jewellery

Along with quiet luxury, the 'old money' trend has dominated this year, and Gwyneth's Fashion Awards look is quite literally the epitome.

"If you lapped up F. Scott Fitzgerald’s The Great Gatsby at school, then you will love the Old Money aesthetic," explains Hello! Fashion's Natalie Salmon.

Though Sofia Richie took the crown as the queen of 'quiet luxury' in 2023, Gwyneth's ultra-chic courtroom outfits started the minimalistic obsession - she walked, so that Sofia and the rest of Hollywood's fashionistas could run, and we can't thank her enough.

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