Elizabeth & Mary-Kate Olsen - CFDA Fashion Awards 2013

Elizabeth Olsen walks the red carpet with her older sister Mary-Kate at the 2013 CFDA Fashion Awards held at Lincoln Center’s Alice Tully Hall on Monday (June 3) in New York City.

The ladies stepped out to support the annual event which recognizes the outstanding contributions made to American fashion by individuals from all areas of the industry and related arts.

PHOTOS: Check out the latest pics of Elizabeth Olsen

Last year, Mary-Kate and her sister Ashley took home the award for Womenswear Designer of the Year for their line The Row.

FYI: Elizabeth is wearing a The Row dress and clutch. Mary-Kate is wearing a vintage Issey Mikyake dress.