(CNN) โ€” Stars are now arriving at New Yorkโ€™s Metropolitan Museum of Art for the Met Gala โ€” the red-carpet event many of them will have saved their boldest and most theatrical looks for.

This is the fashion industryโ€™s biggest night out. With a guest list of around 450 attendees, it is also singularly exclusive.

Leading designers, stylists and models are among those expected to ascend the Metโ€™s iconic stairs. But the annual fundraiser also brings together tastemakers from across sports, arts and the entertainment worlds. Look no further than this yearโ€™s diverse co-chairs (Louis Vuitton menโ€™s creative director Pharrell Williams, rapper A$AP Rocky, F1 driver Lewis Hamilton and actor Colman Domingo) for proof of the galaโ€™s place in contemporary culture.

This yearโ€™s hotly anticipated dress code, โ€œTailored for You,โ€ was inspired by the Costume Instituteโ€™s accompanying exhibition โ€œSuperfine: Tailoring Black Style,โ€ which explores the history of Black style and dandyism.

The Metย saysย its annual theme is designed to โ€œboth provide guidance and invite creative interpretation.โ€ As such, fashion-watchers will not only expect plenty of nods to suiting and menswear but also tributes to Black fashion icons, designers and dandies dating back to the 18th century.

โ€œThe theme this year is not only timely but also speaks to our rich culture that should always be widely celebrated,โ€ said R&B star Usher, a member of the eventโ€™s host committee, in a Met press release.

Scroll down to see some of the best looks so far. This gallery will be updated through the evening.

Teyana Taylor Credit: Dimitrios Kambouris / Getty Images via CNN Newsource
Teyana Taylor (detail). Credit: Dia Dipasupil / Getty Images via CNN Newsource
Lewis Hamilton Credit: Michael Loccisano/GA/The Hollywood Reporter / Getty Images via CNN Newsource
Ego Nwodim. Credit: Dimitrios Kambouris / Getty Images via CNN Newsource
Anna Wintour. Credit: Dia Dipasupil / Getty Images via CNN Newsource
La La Anthony. Credit: Evan Agostini/Invision / AP via CNN Newsource
Emma Chamberlain. Credit: Jamie McCarthy / Getty Images via CNN Newsource