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Wondering what fashion trends to follow? Oscars are not just about celebrating the achievements of Hollywood industry, but also about following arts and fashion trends spotted on the red carpet flaunted by the celebrities. The best of the three fashion trends which were spotted last night at the Oscars are listed below:

'The Red Lip color'
The red lip color adds glam and glitz of to the fashion trends of Hollywood. The host of E! News, Giulinana Rancic wore a red lip color with her stunning ivory Tony Ward Couture gown. Many other celebrity actresses exhibiting the red lip color included Mila Jovovich, Angelina Jolie and Rooney Mara.

'Black, Red & White colored gowns.'
The red colored gowns were worn by Emma Stone, Michelle Williams and Natalie Portman, while Angelina Jolie, Anna Farris and Tina Fey chose to wear timeless black gowns. The ladies who swayed themselves in splendid white gowns included Gwyneth Paltrow, Rooney Mara, Giuliana, and Octavia Spencer.

Short Hair dos
Gone are the days of long hair styles. The Oscars are all also about the perfect hair dos and this time close-cropped hair fashion trends were captivating. Viola Davis, Michelle Williams and Rooney Mara rocked with their shot hair dos.

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L'Oreal Melbourne fashion festival has always been famous among the major fashion festivals on international calendar since it made its debut in the year 1997. However, these days, the fashion industry is going through rough times. These problems will be a major topic of discussion during the champagne parties, which will take place this year.
The CEO of Myer, Bernie Brookes said that "Australian clients seem to have stagnated. They spend only about $1.04 for each dollar earned by them. Out of these earnings, only 88 cents are being spent by us which is a huge breakdown in retail and fashion industry.''
Fashion giants like Zara, are giving a tough competition to the high-cost model of the fashion industry. Although Australia's fashion designing industry is not established on a huge basis, it has progressed beyond its name on a global level. The 2006 census has reported that Australia is home to merely 2600 fashion designers.
The authorities of LMFF have revealed that the fashion industry is all set to overcome the challenges being faced by it. Laura Anderson, who is the chairman of LMFF was of the opinion that the festival will play a crucial role in increasing consumer and industry confidence.

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Milan fashion week saw a shift in style preferences, as Italy went through change in the prime ministerial office and it's policy on taxation. The new government's policy of fighting tax evasion has shown its effects in the form of the slowing demand for high end cars, clothes and jewelry, as rich Italian families curtail expenses to avoid detection for tax evasion.

As such, this first fashion week after the change in government, is reflecting in the designers' collections, the shift in national outlook. Ever since Mario Monti took over as Italian Prime Minister last week and announced deficit cutting measures, the fashion industry has predicted a 5.2 percent fall in earnings this year.

Designers and fashion houses have used military themes to show case their wares using military jackets, peaked caps and olive green colour as highlights. An officer's shinning boot was represented in style in shimmering silver shoes for women.

The MaxMara coat, earlier a symbol of affluence and made in colours of camel and winter white, was now being showcased in olive green. The designs were modified further by the fashion house in areas of cuffs and texture. The traditional five gold buttons were replaced by a modest border of fur, coloured to match the sleeve.

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