Its official, Mary-Kate Olsen and Ashley Olsen are now fashion royalty. Years of trend setting and modelling the best clothes money can't afford have finally paid off as the twins were honoured for their work in fashion at last nights (Monday 4th June) CFDA (that's Council of Fashion Designers of America) Awards.

It wasn't flaunting their dress sense that has won the girls accolades, but instead their work on their fashion line the Row that won them the 2012 Womenswear Designers of the Year award. The twins battled off competition from such fashion powerhouses as Marc Jacobs and Jack Mccollough and Lazaro Hernandez to get to the prize and looked thoroughly pleased with the award.

The Olsen twins were not the only ones being honoured at the even however, as BILLY REID has on hand to accept his award for the Menswear Designer award and Tommy Hilfiger received the award for Lifetime Achievement in Fashion.

Also among the winners was actor Johnny Depp, who was awarded the impressive Fashion Icon Award owing to his unique style. Although unable to accept the award himself, director John Waters was on hand to accept the award for him.