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The age-defying icon, 72, donned her own elevated shorts and bra top design: "Black and ivory wool and stretch cupro floor length split away bandeau top worn over black silk duchess satin sculptural boxing trunks," Wang explained on Instagram alongside three photos of the look. She accessorized with thigh-high socks, sky-high black platform booties and a black box purse.
On the red carpet, the designer (known for her celeb-loved wedding dresses) posed for photos with Emily Ratajkowski, whom she dressed in a red silk plunging strapless gown featuring hand sewn lace appliqué and cut-away details for the annual benefit.
"To Emily, for wearing us with such ease and beauty. XXV," Wang captioned a series of Instagram photos of the model.
Over the past year, Wang has not only been designing buzzed-about looks, she's been wearing them as well!
While self-isolating in Miami in May 2020, she shared a photo of herself posing in a Palm Angels sports bra and white denim shorts that made the internet do a collective double-take after seeing her toned abs, arms and legs.
"I was totally shocked," Wang previously told PEOPLE when asked about her reaction to the coverage. "To be perfectly honest, the real goal of that picture was [to feature] the hair clips I had in my hair. And hair clips don't exactly show up that well in a picture. So we really had to minimize whatever I was wearing and to keep the focus on my hair and those crystal clips. And the fact it became about my Palm Angels workout top was so crazy."
"I'm sort of the one that always puts the women I dress upfront," she explained. "I am a fashion designer. And I have dressed some of the most amazing women over the last 30 years on the red carpet when they've actually won Oscars or Golden Globes or Emmys. And so I'm always the one pushing them out the door, and fixing their train at the Met Gala."
When asked about how she stays so fit, the star credited her long history of competitive figure skating and ballet.
"I think when you spend the first 16 years of your life that physically engaged, there is such a thing that it sort of stays with you," she explained. "There's a muscle memory that goes with that."