By Mary Sollosi
Updated October 23, 2015 at 03:25 PM EDT
Credit: Christopher Polk/Getty Images file

Awards season is heating up as more and more Oscar titles open every weekend, and for the fashion world, that means red carpet season is almost here.

On Monday, EW sister publication InStyle will present a new event, the InStyle Awards, to celebrate InStyle’s new editorial franchise on Hollywood’s best dressed and to honor the stars, stylists, trendsetters, and tastemakers — both in front of the camera and behind the scenes — whose style “defines the red carpet.”

The event will consist of an intimate dinner and awards ceremony in which fashion luminaries including Gwyneth Paltrow (Style Icon of the Year), Zoe Kravitz (Breakthrough Style Star of the Year), Ansel Elgort (Man of Style of the Year), and Louis Vuitton’s Nicolas Ghesquière (Designer of the Year).

In addition to the award recipients, the star-studded guest list includes Julia Roberts, Kate Hudson, Kim Kardashian West, and Selena Gomez, among others. InStyle Editorial Director Ariel Foxman will host the event — the first of its kind to be held at the iconic Getty museum in Los Angeles.

Fashionistas can follow along by keeping an eye on the #InStyleAwards hashtag on social media, and InStyle will provide fans with “an immersive virtual reality experience onsite, allowing viewers to feel as they have been transported to the event.”

Head to InStyle to check out the interactive digital hub for Hollywood’s Best Dressed and to find updates on the most stylish awards of the year.