Blake Lively turned heads as she led the stars at the Gem Awards held at Cipriani 42nd St in New York this past Friday evening.

The 34-year-old actress made a striking appearance at the event, designed to honor jewelers and watchmakers, with a plunging charcoal top that revealed her cleavage and toned midriff. Her top featured full sleeves and shoulder pads, reminiscent of 1980s fashion.

To complete her look, Blake styled her blonde hair tightly back and wore a midnight blue pencil skirt that emphasized her trim waistline. She added some sparkle with drop earrings and jeweled heels, while a diamond-print gold clutch finished off her ensemble.

Among the other notable attendees was British singer Lily Allen, who wore a bold see-through white tulle dress without a brɑ, revealing a frilly white miniskirt underneath. She accessorized with several gold necklaces and walked alongside Quееr Eye’s Antoni Porowski, who wore a white blazer.

Lily, who is married to Stranger Things actor David Harbour, styled her hair in a 1960s-inspired updo and covered up with a black coat as the evening grew colder.

Jennifer Connelly, the star of House Of Sand And Fog, was also present, wearing a shimmering black cocktail dress with full sleeves. Her outfit was complemented by a black clutch with a chessboard design and simple black high-heeled shoes.

The Gem Awards is a prominent gala in the jewelry industry, celebrating individuals and companies whose work contributes to the visibility of fine jewelry and watches.