So which US label's are set for stardom? The most-watched award is, of course, the Swarovski Award for Womenswear, which champions the hot, new names on the American fashion scene. This year's nomination list holds no surprises - Prabal Gurung (pictured), Jason Wu and Joseph Altuzzara, all as worn by Michelle Obama and surely the most discussed names of the last year. And in the running for the Swarovski Award for Accessory Design are firm favourite Alexander Wang, Eddie Borgo and Fenton/Fallon's Dan Lorenz.
Marc Jacobs, Alexander Wang and Donna Karan are set to be battling it out for the Womenswear Designer of the Year Award, and MJ has also been nominated in the Accessory Designer of the Year category alongside Alexis Bittar and Proenza Schouler's design duo, Jack McCullough and Lazaro Hernandez.
The Brits will get a look in at this year's awards however. Burberry's Christopher Bailey will be handed the International Award, while the late, great Alexander McQueen will be honoured with a CFDA Board of Director's Special Tribute Award.
The 2010 CFDA Awards will take place in New York on 7 June. Place your bets now.