After five months and $5 million, Escada opened a renovated 6,000-square-foot flagship in Beverly Hills last night, revealing a sleek new store concept that targets a younger, hipper customer while staying true to the brand’s classic aesthetics.

Over 600 guests from L.A.’s high society and the international fashion press attended the official opening party. The evening also showcased a performance by avant garde singer Sonia de Meglio who together with Parisian DJ Monsieur Velvet provided the entertainment.

Oscar princess Hilary Swank and Vogue diva-at-large Andre Leon Talley hosted the A-list even while celeb chef Wolfgang Puck pampered guests with exclusive delicacies and champagne.

All eyes, however, were on a radiant Naomi Watts. The mother-to-be, who is expecting her first child with boyfriend Liev Schreiber in June, looked simply ravishing in a strapless Escada gown and Neil Lane jewels.