Lily Aldridge: Statuesque at Vanity Fair Oscars Party 2014 with Erin Heatherton

Lily Aldridge is the lady in red at the 2014 Vanity Fair Oscar Party hosted by Graydon Carter held after the 2014 Oscars on Sunday night (March 2) in West Hollywood, Calif.

The 28-year-old supermodel wore a stunning Juan Carlos Obando dress, Bulgari jewels, and Jimmy Choo clutch.

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Lily Aldridge

Erin Heatherton (in Antonio Beradi) was also in attendance and looked positively stunning – she turns 25 tomorrow. Happy early birthday Erin!!!

Lily was last spotted in Miami with fellow Sports Illustrated cover models Chrissy Teigen and Nina Agdal. They hit the carpet at the S.I. Swimsuit South Beach Soiree at the Gale Hotel on February 20.