Dress Down to Dress Up

The feminine/masculine look is also popular. "There's a huge wave toward androgyny," states Thomas, who is also the co-host of the Style Network's Fashion Police, and a style correspondent for E!'s red carpet "Countdown" specials. "They really take the term 'effortlessly chic' literally."

When it comes to pulling off the androgynous look, it's all about balance. For instance, it's au courant to wear a t-shirt and jeans with a blazer or vest and throw on that one fantastic statement piece. This long casual and draped sweater is from Maison Martin Margiela and available from Yoox.

Following the "it's cool to be comfortable" trend, costume jewelry's never been more chic. "It's about having fun and adding a splash of personality to your most comfortable outfit," she explains.