Everything to Know About the 2023 Met Gala Honoring Karl Lagerfeld

Nicknamed 'the Oscars of the East Coast,' the annual event draws millions of eyes for its head-turning designs.

The 2023 Met Gala took place on May 1, and this year honored the late fashion icon Karl Lagerfeld. Nicknamed "the Oscars of the East Coast" by The New York Times, the annual event draws millions of eyes for its head-turning designs, legendary red carpet interviews and sheer magnitude of star power. So what exactly are all those celebrities celebrating?

Below is everything you need to know about fashion's biggest night. 

What Is the Met Gala? 

Officially, the evening is the Metropolitan Museum of Art Costume Institute benefit. The event is held each year on the first Monday of May to raise money for the museum's fashion wing. Last year, the museum brought in $17.4 million for the exhibit. Tickets to the party start at $50,000 and the invite-only guest list is strictly controlled by Vogue's editor-in-chief Anna Wintour. 

The public-facing (read: red carpet) side of the evening is the event's trademark. Guests make waves on the museum's steps with their avant-garde fashion choices before heading inside, where press, phones and social media are strictly forbidden. 

When Is the Met Gala? 

This year's gala took place Monday, May 1. Guests are technically given time slots for their arrivals, which begin at 5:30 p.m. ET, but bigger celebrities tend to arrive as they please later into the evening. 

How Can I Watch the Met Gala? 

Fans can watch the red carpet livestream from Vogue.com, and follow along for updates at ETonline.com

Who Is Hosting the Met Gala? 

Wintour chooses a set of celebrities to co-chair the evening each year (Blake Lively co-chaired in 2022, after years of impressive debuts on the carpet). This year, Wintour is joined by Penélope Cruz, Michaela Coel, Roger Federer and Dua Lipa

On the carpet, Vogue's livestream is hosted by La La Anthony, Derek Blasberg, Chloe Fineman, and special correspondent Emma Chamberlain. Chamberlain cemented herself in Met Gala history last year with her viral exchange with Jack Harlow and fans now eagerly anticipate her return. 

What Is the Theme? 

The Met Gala celebrates the opening of the Costume Institute's annual exhibit, and the evening's dress code usually matches the Institute's subject. This year's exhibit, "Karl Lagerfeld: A Line of Beauty," examines the life and work of the late Karl Lagerfeld, longtime designer for Chanel and eventually his own line, who died in 2019. 

2023 Met Gala guests have been instructed to dress "in honor of Karl." Fans can expect to see many of Lagerfeld's designs on the carpet, along with homages to the other fashion houses Lagerfeld helped shape: Balmain, Fendi, Chloé and more.