Penelope Cruz stepped on the red carpet in Hollywood tonight for the 2012 Oscars looking her best ever since her Atelier Versace at the 2007 Oscars.
The Spanish actress embodied screen sirens of Hollywood’s golden era in a custom Armani Privé gown.
I love the colour of the dress which is an ethereal combination of blue and grey blended to look like a stormy sky, and looks beautiful against her dark hair and olive skin.
The look features dramatic off-the-shoulder straps and a fitted bodice. The waist is enveloped by a drape of fabric that cascades into gathered pleats, causing an understated, luminescent liquid effect.
Chopard jewels, including a simple collar necklace which was a big trend of the night, accessorize the dress.
The stunning look was paired with a retro-inspired faux bob and Chopard jewels.
Credit: Getty
MORE FROM RED CARPET FASHION AWARDS:
Posted by Lauren McCarthy on February 27th, 2012 In: Armani Privé, Blog, Oscar Parties, Penelope Cruz










Princess Charlene of Monaco In Christian Dior – Dior Cruise Resort 2014 Pr...
Christian Dior Cruise 2014 Front Row
Kourtney Kardashian’s Love Sam Beaded Ikat Top
‘The Cannes Diaries’ with shoescribe.com
Zoe Saldana’s Salvatore Ferragamo Gladiator Sandals
Who Was Your Best Dressed On Day 4 of Cannes Film Festival 2013?

















The dress was lavender on tv. She looks pretty but I find it to be forgettable.
Neck up is beautiful but neck down is very mother of the bride.
Everyone upped their game tonight. This one is no exception.
She looks beautiful and iconic. She’s perfectly turned out and easily one of the best of the night on a really disappointing red carpet.
WOW! This is so pretty. This is the most striking I’ve seen her look. I adore the hair and the color of her dress is perfection. Everything here is just divine. Took my breath away!
Such a beautiful look. I like how some of the most naturally beautiful and elegant women in film are loyal customers of Armani. Penelope is one. So is Michelle Pfeiffer. No one wears Armani better than these beauties.
Sophisticated yet sexy. Simply stunning!
One of my favorites of the night! She looks like Grace Kelly.
Grace Kelly exactly. She looks wonderful, one of best dressed this night, although I find it a little aging (but maybe it’s just the retro vibe).
I love the dress, but something just isn’t working for me. I’m not sure what it is. I think it’s the hair, and the skirt makes her legs look a bit short.
Boring
From what I’ve seen so far, this is my favorite look of the night. I really love it to death. And this is coming from someone who really dislikes Penelope.
i am not the biggest fan of her style either but if she keeps this up i’ll be hooked! hopefully in cannes she will continue this awesomeness
The jewelry made her look old and stoggy. How boring are those diamond cluster earrings and the necklace is right behind them. I thought the look belongs on an 80 year old from Plam Beach.
that’s Palm
I wished I like this but I think it really ages her.
i couldn’t agree more unfortunately.not her best look.
I love the color and it is an unexpected choice for her skin tone (yet it looks great!)but other than that this is a boring look. i’m not a fan of the faux bob/ tuck under hairstyle, but i’m thankful she didn’t opt for those god-awful bangs she favors so much. Its good to see your forehead again Penelope!
Love everything but the hair which I’m finding incredibly ageing on Penelope
Giorgio Armani makes the most beautiful red carpet gowns. She’s so elegant. I adore her. Avant grade styling. How gorgeous is that chopard necklace. Another BDOTW
She always likes a bit of volume for the oscars – she has looked but better but she’s okay here
She looks ok,but she doesn’t have the “wow” efect + i think that the dress and the hair makes her look older than she really is.
Absolutely lovely. If she had blonde hair, it would have been a perfect Grace Kelly moment. Definitely one of my favorites.
The hairstyle makes her look old, dress is ok.
Always looks good in color. Don know why she ever does black or white. She’s definitely had better looks since then oscars 2007. Like the nude D&G at the 2009 cannes. Also glad the bangs are not there.good but not …
She was my best dressed of the night.. love everything about it! She doesn’t look like she’s trying too hard, the color suits her, hair and makeup are flawless!
One of my fave looks for the night.. I feel her hair could have been better though
great!
Boring and making her look older than she is.
Gorgeous, like a Spanish Grace Kelly. That being said, she has such gorgeous hair and she is still a young woman, I found the look a little aging. While ladylike and lovely, I would have preferred a little younger choice of hair style, pulled back but still spilling down her back in glorious waves/curls. Or even a more modern free spirited updo. The dress was divine.
The gown is nice but the styling was way off here. Her hair is trying to be vintage glamour but came off as old-fashioned, her makeup is dull and the jewellery is not really working. More dramatic hair and makeup and some amazing earrings would have been perfect, there are more jewels than just diamonds! This look would be great on Sophia Loren (who is in her 70′s).
The hair ruins this look for me. Too matronly.
BEST.DRESSED!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! I am absolutely swooning from this unspeakably gorgeous look. It’s perfect from head to toe–I am feeling a definite Grace Kelly vibe!!! Penelope has never looked this good–this is her finest moment.
I am so happy!!!
She and Jessica Chastain really impressed!
Love the color and love the bodice. The skirt needs less volume or needs to be straight with a slit. From the neck up she looks matronly. I think a less shellacked hairstyle and no earrings would have been better.
Radiant !
I don’t think I have ever seen her look this beautiful! I’m in awe.
This is definitely a huge improvement, considering her last looks. This is a beautiful colour and a really nice gown.