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Anna Wintour's Costume Institute Gala with Hosts Justin Timberlake, Kate Moss, and Marc Jacobs

Anna Wintour's Costume Institute Gala with Hosts Justin Timberlake, Kate Moss, and Marc Jacobs

Anna Wintour's annual 'Costume Institute' Gala will be held tonight at the Metropolitan Museum of Art, in New York City, with co-hosts Kate Moss, Justin Timberlake, and Marc Jacobs. This year's gala theme is 'Model as Muse': Embodying Fashion. Moss (Supermodel) will be wearing a Marc Jacobs design.

As for the other models expected in attendance at the themed for model Gala: the lovely 'Coco Rocha' will be dressed by and attending with Isaac Mizrahi; it is reported that Heidi Klum will walk the stairs of the Met with fashion designer Gilles Mendel; recently married supermodel Gisele Bundchen will be John Galliano's date to the event.

It has long been seen that Wintour's Costume Institute Gala is seen as a rival and competitive to Vanity Fair editor Graydon Carter's annual Oscar party in Hollywood, both in terms of style and fashion, and also the star, celebrity presence. Some even chastise Wintour, viewing that she purposefully ups the social status and celebrity quotient of the Gala so as to compete with Carter's February "Oscar party", to the detriment of the class and prestige of the Metropolitan Museum of Art and its reputation.

"The museum has struck a Faustian bargain with Vogue that diminishes the museum. The tail is wagging the dog," Michael Gross said, author of the new unauthorized history of the Met to hit stores on May 5, 2009.

Missing out on tonight's special festivities are some fashion industry standards. "Karl Lagerfeld, a longtime friend of Anna Wintour who dines with her regularly at l'Espadon in Paris, will not share a meal with Wintour on Monday. His busy travel schedule, including upcoming stops in London, Moscow and Venice, doesn't accommodate a transatlantic voyage for this gala, but Chanel will dress Kirsten Dunst and Diane Kruger," according to Fashion Week Daily.

LATEST UPDATE: Supermodels Christy Turlington, Linda Evangelista, and Naomi Campbell will not be attending the Gala event. "There were two theories for their no-shows: They no longer like each other and don't want to have to pose together for photos, or they're upset they weren't chosen to co-chair the event while younger Kate Moss was," today's Page Six reports.

However, concerns over waning attendance due to the economic crisis - with tables starting at $75,000 - is unwarranted; this year's Costume Institute Gala is sold-out, with upward of 100 top models expected to participate this evening.

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