Olsen twins win Designer of the Year Award

Former actresses Mary-Kate and Ashley Olsen were honoured by

the Council of Fashion Designers of America with the Womenswear Designer of the Year 2012 Award for their fashion label The Row .

This year marked the awards' fiftieth anniversary. Billy Reid won Menswear Designer of the Year, while Reed Krakoff walked away with an award for best accessories.

The Swarovski Award went to talents Joseph Altuzarra for womenswear, Philip Lim for menswear and Tabitha Simmons for accessories.