TODAY   |  February 25, 2013

Oscars recap: Anne Hathaway’s underwhelming dress

E! News’ Giuliana Rancic reviews the best and worst of the Academy Awards red carpet fashion, including Anne Hathaway's flop and Naomi Watts' "edgy" look.

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This content comes from Closed Captioning that was broadcast along with this program.

>>> hollywood pulled out all the stops at last night's oscars . did the stars shine as bright on the red carpet ?

>> juliana was front and center at last night's event, and she's ready to give us the rundown of the best and the worst dressed. hey, girl.

>> good morning.

>> good morning, ladies. how are you doing?

>> we're good. have you been to sleep yet?

>> not at all.

>> you look good.

>> talk to us about trends. what did you see on the red carpet ?

>> the biggest trend of the night was there was no one trend. you know, there were bold colors. they were metallics and soft colors. it was kind of all over the place. if anything, it seemed like armani preba was the designer of the night. his dress was on every other a-lister. that was the trend.

>> jennifer chastain, she looked like an oscar.

>> she's beautiful.

>> look at that body.

>> bless her for showing up early to the red carpet . she was the first a-lister to arrive. we love that. she looked gorgeous. old hollywood glamour. a little jessica rabbit in her.

>> jessica rabbit , yeah.

>> incredible. that dress was tailored to perfection.

>> yeah.

>> i just thought it was an excellent choice for the oscars .

>> how about naomi watts ? she took a risk, but i thought her dress was beautiful.

>> you know, it's hard for us to tell. you guys see them there on the red carpet , but sometimes these things photograph very differently than they actually seem in person. that looks like liquid, i don't know, charcoal on her or something.

>> you know, she looked just as beautiful on the carpet as in pictures. this photographed incredibly well. when i saw her on the carpet, i thought, oh, gosh, i hope this photographs well, and it did. she looked fantastic. it was modern. it was edgy. it was cool. it was almost a bit of a risque choice for the oscars , but it paid off.

>> it didn't show any skin, though. that's the interesting thing. not very much. no. i mean, it was very cut out and stuff, but it really was quite covered up.

>> it was. it was. risque in the sense that it was a very modern cut, and for the oscars that tends to be a bit more classic. a classic red carpet . i loved it. i thought it paid off.

>> let's talk about a couple of your misses. you didn't love ann hathaway .

>> in prada.

>> okay.

>> why?

>> here's the thing. we were waiting for ann hathaway to wow us. this is the oscars . she was a shoe-in to win, and so, you know, we really were waiting for this big gorgeous dress. i think she did have that dress because she was supposed to wear a valentino gown, and a couple of hours before the show she made a last minute decision to change into this prada. now, we're hearing this morning the reason that happened was because she had heard that another a-list actress was wearing a very similar gown and didn't want to be in a similar look.

>> oh.

>> yeah. so she said forget it. i'm not wearing that dress.

>> she preferred the one she wore as she performed with the ensemble from " les miserables ."

>> that was armani prebae once again.

>> you looked great last night. it was fun watching you.

>> kiss the baby for us.

>> i will. i will. bye, girls.

>> bye.