Both ladies showed off their style credentials as they hit New York for the annual CFDA Fashion Awards.
We recently spotted Olivia looking chic in a juicy yellow blouse and monochrome skirt, and the stylista continued her fashion roll last night.
Olivia stepped out in a Dennis Basso gold frock, which featured a dazzling bejewelled top and fringed skirt. The socialite toted a beaded Sergio Rossi clutch, and slipped her feet into lace-up heels from Zara.
Despite having designer shoes at her fingertips, Olivia is clearly a fan of Zara's affordable footwear - we've also spied her in their brown strappy sandals!
And it seems Olivia met her match in the glam stakes, as model Miranda Kerr stepped out looking equally mesmerising.
The mother-of-one opted for a shimmering dress by Proenza Schouler, a glitzy Stuart Weitzman clutch, and pointed heels also by Stuart Weitzman.
Like Olivia, Miranda scraped her brunette locks into an elegant bun, adding a dab of red lip gloss for an A-list pout.
Read more: Olivia Palermo pulls off dressed-down chic in ripped jeans: pic!
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