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New York Fashion Week is off to an action-packed start at Lincoln Center. Yesterday, Vena Cava, Richard Chai LOVE, Christian Siriano and Richie Rich all put on incredible runway shows, and Chanel hosted a party at the re-opening of its Soho boutique. Designer Karl Lagerfeld welcomed guests like Blake Lively, Leighton Meester, Rachel Bilson, Alexa Chung, Liv Tyler, Sarah Jessica Parker, and Rachel Zoe, who were all clad in Chanel. When we asked InStyle fashion contributor Rachel Bilson about her first Chanel purchase, she told us she “bought a little Chanel bag—it was the first thing I bought when I started acting. I figured I couldn’t go wrong with it because it was so classic, but it really sucked: it was stolen!” For more details on Day 1′s hottest happenings and celebrity sightings, click through our gallery now!

—Rachel Jacoby, with reporting by Nakisha Williams