Collins was elegantly dressed in a red lace Valentino gown and accessorized her look with Harry Winston jewelry, a slick ponytail and burgundy lips. ET spoke with the actress on the red carpet where she gushed about her look for the night.
"What's not to love?" Collins told ET. "I can do a little shimmy! It's my party dress! It's just got so much going on, I just loved it, and it's red and my character's name is Red."
Okja, directed by Bong Joon-Ho, follows Mija (Ahn Seo-hyun), a young girl who risks everything to prevent a powerful company from kidnapping her best friend, a monster named Okja. The film, which will launch globally on Netflix and play in select theaters in Los Angeles and New York on June 28, is unlike many have seen before.
"I think that's the nature of what director Bong does," Collins explained on the red carpet. "He brings things to light that a lot of people will never see otherwise. I think it deals with so many topics and subject matters, from environment to politics, the food industry, nutrition, love [and] environment. There's just so many things that he deals with in such a beautiful way and it's an adventure movie as well, and it's beautiful. So I'm really excited. And it's funny!"
Earlier this week, Lily's father, singer Phil Collins, suffered a serious head injury when he slipped in his bathroom. When asked about how her dad is doing, the actress informed ET that, "He's doing good, thank you."